CIBC Remains a Buy on Interfor

By Jason Carr

Interfor (TSX: IFP), the Materials sector company, has received a rating update from a Wall Street analyst yesterday. Analyst Hamir Patel from CIBC reiterated a Buy rating, with a C$22 price target.

According to TipRanks.com, Patel is ranked #716 out of 4575 analysts.

Currently, the analyst consensus on Interfor is Strong Buy and the average price target is C$22.13, representing a 21.9% upside.

In a report issued on May 23, RBC Capital also reiterated a Buy rating on the stock with a C$22 price target.

Interfor’s market cap is currently C$1.27B and has a P/E ratio of 14.9.

Interfor Corp. manufactures wood products. The company operates the business through solid wood. It harvests and purchases logs which are sorted by species, size and quality and then either manufactured into lumber products at the company’s sawmills or sold. Interfor was founded on May 6, 1963 and is headquartered in Vancouver, Canada.

The company’s shares closed last Monday at $18.16.