RBC Capital Thinks Western Forest Prod’s Stock is Going to Recover


Western Forest Prod (WEF), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. RBC Capital’s analyst Paul Quinn reiterates their Buy rating on the shares, with a C$2.25 price target.

According to TipRanks.com, Quinn is a 5-star analyst with an average return of 13.6% and a 65.9% success rate. Quinn covers the Consumer Goods sector, focusing on stocks such as Rayonier Advanced Materials, Mercer International Inc, and International Paper Co.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Western Forest Prod with a C$2.26 average price target, a 24.2% upside from current levels. In a report issued on April 22, Raymond James also maintained a Buy rating on the stock with a C$2.30 price target.

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Western Forest Prod’s market cap is currently C$709.9M and has a P/E ratio of 10.4. The company has a Price to Book ratio of 1.24.

Western Forest Products, Inc. engages in the sale of lumber and logs, which includes timber harvesting, sawmilling logs into specialty lumber and value added lumber remanufacturing. Its products include outdoor living, home components, millwork, industrial and non-residential. The company was founded in 1955 and is headquartered in Vancouver, CA.

The company’s shares closed on Friday at C$1.82, close to its 52-week low of C$1.72.

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