Western Forest Prod (WEF), the Materials sector company was revisited on May 2, and remains undervalued for at least one analyst on the street. Analyst Benoit Laprade from Scotiabank remains bullish on the stock and has a C$2.25 price target.
According to TipRanks.com, Laprade is a 2-star analyst with an average return of 0.2% and a 57.3% success rate. Laprade covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Cascades Inc, and Norbord Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Western Forest Prod with a C$2.20 average price target, representing a 21.5% upside. 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$694.6M and has a P/E ratio of 10.1. The company has a Price to Book ratio of 1.21.
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$1.81, close to its 52-week low of C$1.72.
