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CanWel Building (CWX) Gets a Buy Rating from National Bank


CanWel Building (TSX: CWX), the Services sector company, has received a rating update from a Wall Street analyst today. Analyst Leon Aghazarian from National Bank reiterated a Buy rating, with a C$7.50 price target.

According to TipRanks.com, Aghazarian is ranked #2630 out of 4875 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for CanWel Building with a C$7.33 average price target, a 22.2% upside from current levels. In a report issued on September 12, Raymond James also maintained a Buy rating on the stock with a C$7 price target.

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Based on CanWel Building’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$14.66 million. In comparison, last year the company had a net profit of C$9.83 million.

CanWel Building Materials Group Ltd. engages in the distribution and trade of construction materials. It operates through Distribution and Forestry business segments. The Distribution segment is comprised of wholesale distribution of building materials and home renovation products, including value-added services such as lumber pressure treating.

The company’s shares closed on Friday at C$6, equals to its 52-week low of C$6.