Western Forest Prod (WEF) Receives a Buy from Scotiabank

The Materials sector company, Western Forest Prod (TSX: WEF), has received a rating update from a Wall Street analyst yesterday. The company received a Buy rating from Scotiabank’s analyst Benoit Laprade, with a C$3 price target.

Laprade has an average return of 8.6% when recommending Western Forest Prod.

According to TipRanks.com, Laprade is ranked #1338 out of 4877 analysts.

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Western Forest Prod has an analyst consensus of Moderate Buy, with a price target consensus of C$2.92.

Western Forest Prod’s market cap is currently C$735.4M and has a P/E ratio of 8.9. The company has a Price to Book ratio of 1.25.

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 Friday at C$1.88, close to its 52-week low of C$1.86.

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