Western Forest Prod (WEF) Gets a Buy Rating from Raymond James


In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Western Forest Prod (WEF). Analyst Daryl Swetlishoff from Raymond James reiterated a Buy rating, with a C$2.60 price target today.

According to TipRanks.com, Swetlishoff is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -10.4% and a 32.3% success rate. Swetlishoff covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Weatherford, and Norbord Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Western Forest Prod with a C$2.55 average price target.

Based on Western Forest Prod’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$294 million and net profit of C$15.1 million. In comparison, last year the company had a net profit of C$19 million.

Western Forest Products, Inc. engages in the sale of lumber and logs, which includes timber harvesting, sawmilling logs into specialty lumber and valueadded lumber remanufacturing. Its product includes structural wood products from forests on the coast of British Columbia. The company was founded in 1955 and is headquartered in Vancouver, CA.

The company’s shares closed on Wednesday at C$1.95.

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