The Materials sector company, West Fraser Timber (TSX: WFT), has received a rating update from a Wall Street analyst today. The company received a Hold rating from CIBC’s analyst Hamir Patel, with a C$97 price target.
According to TipRanks.com, Patel is ranked #801 out of 4876 analysts.
Currently, the analyst consensus on West Fraser Timber is a Moderate Buy with an average price target of C$104.50.
Based on West Fraser Timber’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$1.83 billion and net profit of C$346 million. In comparison, last year the company earned revenue of C$1.32 billion and had a net profit of C$146 million.
West Fraser Timber Co. Ltd. is an integrated wood products company, which produces lumber, wood chips, plywood, pulp and newsprint. Its products include Spruce-Pine-Fir, laminated veneer, and southern yellow pine lumber, medium density fiberboard, plywood, treated wood, pulp and paper.
The company’s shares closed on Wednesday at C$78.71.
