Canfor Corporation (CFP) Gets a Buy Rating from Raymond James

By Carrie Williams

Canfor Corporation (CFPResearch Report), the Materials sector company, has received a rating update from a Wall Street analyst today. Raymond James’ analyst Daryl Swetlishoff reiterates their Buy rating on the shares, with a C$18 price target.

According to TipRanks.com, Swetlishoff is ranked #5181 out of 5239 analysts.

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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Canfor Corporation with a C$16 average price target, which is a 5.4% upside from current levels. In a report issued on July 30, CIBC also reiterated a Buy rating on the stock with a C$14 price target.

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Based on Canfor Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$1.31 billion and GAAP net loss of C$48.6 million. In comparison, last year the company had a net profit of C$170 million.

Canfor Corp. operates as an integrated forest products company. It operates through the Lumber and Pulp and Paper segments. The Lumber segment deals with logging activities and manufactures wood chips, pellets and wood products. The Pulp and Paper segment produces and trades northern bleached softwood kraft and bleached chemi-thermo mechanical pulp.

The company’s shares closed on Monday at C$15.18.