The Materials sector company, West Fraser Timber (WFT), has received a rating update from a Wall Street analyst today. Analyst Hamir Patel from CIBC reiterated a Buy rating, with a C$65 price target.
According to TipRanks.com, Patel is a 4-star analyst with an average return of 5.2% and a 49.4% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Cascades Inc, and Norbord Inc.
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West Fraser Timber has an analyst consensus of Strong Buy, with a price target consensus of C$73.50, implying a 38.4% upside from current levels. In a report issued on July 9, RBC Capital also maintained a Buy rating on the stock with a C$77 price target.
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The company has a one-year high of C$93.13 and a one-year low of C$52.01. Currently, West Fraser Timber has an average volume of 385.7K.
West Fraser Timber Co. Ltd. is an integrated wood products company. Its products include 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 Tuesday at C$53.09, close to its 52-week low of C$52.01.
