CIBC Upgrades West Fraser Timber (WFT) to “Outperform”
West Fraser Timber (TSE:WFT) was upgraded by research analysts at CIBC from a “neutral” rating to an “outperform” rating in a report released on Friday. The brokerage currently has a C$99.00 target price on the stock, up from their previous target price of C$80.00. CIBC’s target price suggests a potential upside of 16.70% from the company’s current price.
WFT has been the subject of several other research reports. TD Securities boosted their target price on West Fraser Timber from C$80.00 to C$83.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Raymond James Financial boosted their target price on West Fraser Timber from C$82.00 to C$84.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 24th. Scotiabank boosted their target price on West Fraser Timber from C$76.00 to C$80.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 24th. Finally, Royal Bank of Canada upgraded West Fraser Timber from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from C$60.00 to C$80.00 in a research note on Friday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of C$83.33.
Shares of West Fraser Timber (TSE:WFT) opened at C$84.83 on Friday. The firm has a market capitalization of $6,420.00, a P/E ratio of 13.36 and a beta of 1.54. West Fraser Timber has a 52 week low of C$42.98 and a 52 week high of C$88.98.
In other West Fraser Timber news, insider Ketcham Investments sold 500,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of C$80.90, for a total value of C$40,450,000.00.
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West Fraser Timber Company Profile
West Fraser Timber Co Ltd. is a diversified wood products company, which produces lumber (spruce-pine-fir (SPF) and southern yellow pine (SYP)), panels (plywood, medium-density fiberboard (MDF) and laminated veneer lumber (LVL)), pulp (northern bleached softwood kraft (NBSK) and bleached chemi-thermomechanical pulp (BCTMP)), newsprint, wood chips and energy.
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