Scotiabank Keeps Their Hold Rating on Canfor Corporation (CFP)


In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, Canfor Corporation (CFP). Analyst Benoit Laprade from Scotiabank remains neutral on the stock and has a C$20.50 price target.

According to TipRanks.com, Laprade is a 5-star analyst with an average return of 13.9% and a 65.2% success rate. Laprade covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Louisiana-Pacific, and Cascades Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Canfor Corporation with a C$20.90 average price target.

The company has a one-year high of C$34.04 and a one-year low of C$12.91. Currently, Canfor Corporation has an average volume of 402.3K.

Canfor Corp. operates as an integrated forest products company. It operates through the Lumber and Pulp and 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$13.90, close to its 52-week low of C$12.91.

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