TD Securities Issues Pessimistic Forecast for Canfor (TSE:CFP) Stock Price

Canfor (TSE:CFP) had its target price dropped by investment analysts at TD Securities from C$20.00 to C$19.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 30.49% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. CIBC lowered their price target on shares of Canfor from C$21.00 to C$19.00 in a report on Wednesday, January 15th. Raymond James lowered their price target on shares of Canfor from C$28.00 to C$24.00 in a report on Thursday, January 30th. Scotiabank downgraded shares of Canfor from a “hold” rating to a “strong sell” rating in a research note on Monday, February 3rd. Royal Bank of Canada reduced their price objective on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Finally, BMO Capital Markets downgraded shares of Canfor from an “outperform” rating to a “market perform” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Canfor has a consensus rating of “Moderate Buy” and an average price target of C$20.00.

Canfor Stock Performance

TSE CFP traded down C$0.41 during trading on Monday, reaching C$14.56. The company’s stock had a trading volume of 64,073 shares, compared to its average volume of 177,643. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. The firm has a market cap of C$1.75 billion, a price-to-earnings ratio of -2.42 and a beta of 2.08. Canfor has a twelve month low of C$13.53 and a twelve month high of C$18.38. The business’s fifty day moving average price is C$15.11 and its 200-day moving average price is C$15.86.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.