CIBC Reiterates a Hold Rating on Canfor Pulp Products

By Carrie Williams

Wall Street analyst has provided a review for the Consumer Goods company yesterday, but retained the same rating on the stock. Analyst Hamir Patel from CIBC remains neutral on Canfor Pulp Products (TSX: CFX) and has a C$27 price target.

Patel has an average return of 40.2% when recommending Canfor Pulp Products.

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

Read also: Nike (NKE) Has Just Done It! But Analysts Remain Sidelined

The word on The Street in general, suggests a Hold analyst consensus rating for Canfor Pulp Products with a C$23.85 average price target, a -8.1% downside from current levels. In a report issued on July 10, Scotiabank also reiterated a Hold rating on the stock with a C$23.25 price target.

.

Canfor Pulp Products’ market cap is currently C$1.69B and has a P/E ratio of 11.9. The company has a Price to Book ratio of 2.67.

Canfor Pulp Products, Inc. engages in the manufacture, supply, and sale of pulp and paper products. It operates through the Pulp and Paper segments. The Pulp segment includes the purchase of residual fibre, and production and sale of pulp products in Northern Bleached Softwood Kraft and Bleached Chemi-Thermo Mechanical Pulp mills.

The company’s shares closed on Wednesday at C$25.95, close to its 52-week high of C$26.26.