CIBC Reiterates a Buy Rating on West Fraser Timber

By Carrie Williams

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, West Fraser Timber (TSX: WFT). Analyst Hamir Patel from CIBC remains bullish on the stock and has a C$112 price target.

Patel has an average return of 8.3% when recommending West Fraser Timber.

According to TipRanks.com, Patel is ranked #664 out of 4842 analysts.

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Currently, the analyst consensus on West Fraser Timber is a Moderate Buy with an average price target of C$100.33.

West Fraser Timber’s market cap is currently C$6.98B and has a P/E ratio of 10.4. The company has a Price to Book ratio of 2.42.

West Fraser Timber Co. Ltd. is an integrated wood products company, which produces 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 Wednesday at C$89.54.