Canfor Pulp Products (CFX) Gets a Hold Rating from CIBC

By Jason Carr

Canfor Pulp Products (CFXResearch Report), the Consumer Goods sector company was revisited yesterday, yet the Wall Street analyst remains currently on the sidelines. CIBC’s analyst Hamir Patel reiterates their Hold rating on the shares, with a C$20 price target.

According to TipRanks.com, Patel is a 4-star analyst with an average return of 6.3% and a 45.7% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Cascades Inc, and Norbord Inc.

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The word on The Street in general, suggests a Hold analyst consensus rating for Canfor Pulp Products with a C$22 average price target, implying a 28.0% upside from current levels. In a report issued on January 7, TD Securities also reiterated a Hold rating on the stock with a C$19 price target.

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The company has a one-year high of C$28.12 and a one-year low of C$13. Currently, Canfor Pulp Products has an average volume of 113.2K.

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 Monday at C$17.19.