Scotiabank Believes Interfor (TSX: IFP) Still Has Room to Grow

By Jason Carr

Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Analyst Benoit Laprade from Scotiabank remains bullish on Interfor (TSX: IFP) and has a C$29 price target.

According to TipRanks.com, Laprade is a 4-star analyst with an average return of 4.6% and a 73.4% success rate. Laprade covers the Consumer Goods sector, focusing on stocks such as Fibria Celulose SA, Resolute Forest, and Methanex Corp.

Currently, the analyst consensus on Interfor is Strong Buy and the average price target is C$30.33, representing a 20.0% upside.

In a report issued on April 2, RBC Capital also reiterated a Buy rating on the stock with a C$30 price target.

Interfor’s market cap is currently C$1.77B and has a P/E ratio of 18.2.

Interfor Corp. engages in the manufacture of wood products. It harvests and purchases logs which are sorted by species, size, and quality. Its products include appearance timbers, decking, framing, furniture, industial packaging, paneling, windows, and doors. The company was founded on May 6, 1963 and is headquartered in Vancouver, Canada.

The company’s shares closed on Thursday at C$25.28, close to its 52-week high of C$26.50.