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CANFOR (TSE:CFP) STOCK RATING LOWERED BY CIBC

Posted by AM Reporter Staff on Oct 6th, 2022

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Canfor (TSE:CFP – Get Rating) was downgraded by equities researchers at CIBC
from an “outperform” rating to a “neutral” rating in a note issued to investors
on Tuesday, BayStreet.CA reports. They currently have a C$25.00 price target on
the stock, down from their prior price target of C$36.00. CIBC’s price target
suggests a potential upside of 26.65% from the company’s current price.


CANFOR PRICE PERFORMANCE

CFP stock opened at C$19.74 on Tuesday. The company has a 50 day simple moving
average of C$24.69 and a 200 day simple moving average of C$24.73. The stock has
a market cap of C$2.42 billion and a price-to-earnings ratio of 2.20. Canfor has
a 1 year low of C$18.97 and a 1 year high of C$33.89. The company has a
debt-to-equity ratio of 7.05, a current ratio of 3.26 and a quick ratio of 2.00.

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Canfor (TSE:CFP – Get Rating) last posted its earnings results on Thursday, July
28th. The company reported C$3.07 earnings per share for the quarter, missing
analysts’ consensus estimates of C$3.12 by C($0.05). The business had revenue of
C$2.17 billion for the quarter. Research analysts anticipate that Canfor will
post 3.9590202 EPS for the current fiscal year.


ABOUT CANFOR




(Get Rating)



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


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