Interfor Receives a Buy from Scotiabank

By Jason Carr

The Materials sector company, Interfor (TSX: IFP), has received a rating update from a Wall Street analyst yesterday. Scotiabank’s analyst Benoit Laprade reiterates their Buy rating on the shares, with a C$23.50 price target.

According to TipRanks.com, Laprade is a 5-star analyst with an average return of 9.1% and a 82.2% success rate. Laprade covers the Consumer Goods sector, focusing on stocks such as Fibria Celulose SA, Methanex Corp, and Domtar Corp.

Interfor has an analyst consensus of Strong Buy, with a price target consensus of C$23.30.

The company has a one-year high of C$20.95 and a one-year low of C$13.49. Currently, Interfor has an average volume of 207.2K.

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 on Thursday at C$20.84, close to its 52-week high of C$20.95.