TD Securities Issues Pessimistic Forecast for Canfor (TSE:CFP) Stock Price

Canfor (TSE:CFP) had its price objective reduced by investment analysts at TD Securities from C$19.00 to C$17.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target indicates a potential upside of 32.19% from the stock’s current price.

A number of other equities analysts have also recently issued reports on CFP. CIBC lowered their price objective on shares of Canfor from C$21.00 to C$19.00 in a research report on Wednesday, January 15th. Scotiabank downgraded shares of Canfor from a “hold” rating to a “strong sell” rating in a report on Monday, February 3rd. Raymond James cut their price objective on Canfor from C$28.00 to C$24.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada lowered their target price on Canfor from C$21.00 to C$19.00 and set an “outperform” rating for the company in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$19.67.

Canfor Trading Down 2.1 %

Shares of CFP opened at C$12.86 on Thursday. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. Canfor has a 52-week low of C$12.68 and a 52-week high of C$18.38. The firm has a market cap of C$1.55 billion, a price-to-earnings ratio of -2.14 and a beta of 2.08. The business’s fifty day moving average is C$14.67 and its 200-day moving average is C$15.70.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.