In a latest note to investors, a research analyst has provided a rating update for the Canfor Corporation (CFP). The company received a Buy today from RBC Capital’s analyst Paul Quinn, with a C$23 price target.
According to TipRanks.com, Quinn is a 5-star analyst with an average return of 13.3% and a 62.3% success rate. Quinn covers the Consumer Goods sector, focusing on stocks such as Rayonier Advanced Materials, Mercer International Inc, and International Paper Co.
Currently, the analyst consensus on Canfor Corporation is a Moderate Buy with an average price target of C$27.58, which is a 71.3% upside from current levels. In a report released yesterday, TD Securities also reiterated a Buy rating on the stock with a C$26 price target.
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Based on Canfor Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$125 million. In comparison, last year the company had a net profit of C$132 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 Monday at C$16.10, close to its 52-week low of C$14.48.
