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TD Securities Downgrades Canfor Pulp Products to Hold


In a new note to investors on June 20, an analyst has provided a rating update for the Consumer Goods sector company, Canfor Pulp Products (TSX: CFX). Sean Steuart, an analyst with TD Securities, has downgraded their rating on CFX to Hold on June 20 , with a C$26 price target.

Steuart has an average return of 40.3% when recommending Canfor Pulp Products.

According to TipRanks.com, Steuart is ranked #463 out of 4829 analysts.

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The word on The Street in general, suggests a Hold analyst consensus rating for Canfor Pulp Products with a C$22.10 average price target, implying a -3.8% downside from current levels. In a report issued on June 5, Raymond James also downgraded the stock to Hold with a C$24 price target.

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Canfor Pulp Products’ market cap is currently C$1.5B and has a P/E ratio of 10.5. The company has a Price to Book ratio of 2.36.

Canfor Pulp Products, Inc. engages in the manufacture, supply, and sale of pulp and paper products. It operates through the Pulp and Paper segments. The Pulp segment includes the purchase of residual fibre, and production and sale of pulp products in Northern Bleached Softwood Kraft and Bleached Chemi-Thermo Mechanical Pulp mills.

The company’s shares closed on Friday at C$22.97, close to its 52-week high of C$23.75.