Canfor Corporation (TSX: CFP), the Materials sector company was revisited on July 15, and remains undervalued for at least one analyst on the street. On July 15, analyst Paul Quinn gave a Buy rating to CFP and set a C$43 price target.
According to TipRanks.com, Quinn is a top 100 analyst with an average return of 21.0% and a 73.4% success rate. Quinn covers the Consumer Goods sector, focusing on stocks such as Mercer International Inc, International Paper Co, and Clearwater Paper.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Canfor Corporation with a C$35.38 average price target.
Based on Canfor Corporation’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$112 million. In comparison, last year the company had a net profit of C$81.3 million.
Canfor Corp. engages in the production of forest products. It operates through the Lumber and Pulp ang Paper segments. The Lumber segment deals with logging activities and manufactures wood chips, pellets and wood products. The Pulp and Paper segment produces and trades northern bleached softwood kraft and bleached chemi-thermo mechanical pulp.
The company’s shares closed on Tuesday at C$33.18, close to its 52-week high of C$34.04.
