There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on West Fraser Timber Co Ltd (WFTBF) and Ero Copper Corp (ERRPF) with bullish sentiments.
West Fraser Timber Co Ltd (WFTBF)
CIBC analyst Hamir Patel maintained a Buy rating on West Fraser Timber Co Ltd today and set a price target of C$58.00. The company’s shares closed last Monday at $38.38.
According to TipRanks.com, Patel is a 4-star analyst with an average return of 5.1% and a 44.3% success rate. Patel covers the Basic Materials sector, focusing on stocks such as Interfor Corporation, Stella-Jones Inc, and Cascades Inc.
West Fraser Timber Co Ltd has an analyst consensus of Strong Buy, with a price target consensus of $53.23.
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Ero Copper Corp (ERRPF)
In a report released today, Farooq Hamed from Raymond James maintained a Buy rating on Ero Copper Corp, with a price target of C$20.00. The company’s shares closed last Monday at $12.46.
According to TipRanks.com, Hamed has 0 stars on 0-5 star ranking scale with an average return of -16.2% and a 29.8% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals Ltd, OceanaGold Corporation, and Hudbay Minerals Inc.
Currently, the analyst consensus on Ero Copper Corp is a Hold with an average price target of $17.07.
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