Interfor Gets a Buy Rating from CIBC

By Jason Carr

Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Interfor (TSX: IFP) received a Buy rating from CIBC’s analyst Hamir Patel, with a C$27 price target.

Patel has an average return of 13.0% when recommending Interfor.

According to TipRanks.com, Patel is ranked #908 out of 4743 analysts.

Interfor has an analyst consensus of Moderate Buy, with a price target consensus of C$27.

Based on Interfor’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$489 million and quarterly net profit of C$16.78 million. In comparison, last year the company earned revenue of C$442 million and had a net profit of C$26.55 million.

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 Friday at C$22.60.