Canfor (TSE:CFP) Given New C$45.00 Price Target at Royal Bank of Canada

Canfor (TSE:CFP) had its target price boosted by equities research analysts at Royal Bank of Canada to C$45.00 in a research note issued on Wednesday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 67.22% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. TD Securities raised their target price on shares of Canfor from C$36.00 to C$41.00 and gave the company a “buy” rating in a research note on Friday, April 23rd. Raymond James increased their price objective on shares of Canfor from C$46.00 to C$53.00 and gave the company a “speculative buy” rating in a research report on Tuesday, May 25th. BMO Capital Markets increased their price objective on shares of Canfor from C$31.00 to C$36.00 and gave the company an “outperform” rating in a research report on Monday, May 3rd. Scotiabank raised their target price on shares of Canfor from C$40.00 to C$42.00 in a report on Wednesday, May 19th. Finally, CIBC restated an “outperform” rating and issued a C$41.00 target price on shares of Canfor in a report on Thursday, April 29th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of C$43.00.

CFP opened at C$26.91 on Wednesday. The stock has a market capitalization of C$3.37 billion and a PE ratio of 3.23. The company’s fifty day moving average is C$30.38. Canfor has a fifty-two week low of C$10.16 and a fifty-two week high of C$35.53. The company has a quick ratio of 1.00, a current ratio of 2.25 and a debt-to-equity ratio of 18.12.

Canfor (TSE:CFP) last posted its earnings results on Thursday, April 29th. The company reported C$3.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$3.40 by C$0.07. The company had revenue of C$1.94 billion for the quarter. On average, analysts anticipate that Canfor will post 3.7599998 earnings per share for the current year.

About Canfor

Canfor Corporation operates as an integrated forest products company in Canada, Asia, the United States, Europe, and internationally. It operates through Lumber, and Pulp and Paper segments. The company manufactures and sells finger-jointed lumber, higher-grade MSR lumber, premium one-inch boards, engineered wood products, wood chips, wood pellets, logs, strength-rated trusses, beams, and tongue-and-groove timber, as well as generates green energy.

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