CIBC Upgrades West Fraser Timber (WFT) to “Outperform”

West Fraser Timber (TSE:WFT) was upgraded by analysts at CIBC from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday. The firm currently has a C$99.00 price target on the stock, up from their prior price target of C$80.00. CIBC’s price objective would suggest a potential upside of 16.70% from the company’s current price.

A number of other equities analysts also recently commented on the company. TD Securities downgraded West Fraser Timber from a “buy” rating to a “hold” rating and boosted their price objective for the stock from C$78.00 to C$80.00 in a research report on Friday, October 13th. Scotiabank boosted their price objective on West Fraser Timber from C$76.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 24th. Raymond James Financial boosted their price objective on West Fraser Timber from C$82.00 to C$84.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada raised West Fraser Timber from an “underperform” rating to a “sector perform” rating and boosted their price objective for the stock from C$60.00 to C$80.00 in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. West Fraser Timber presently has an average rating of “Hold” and a consensus price target of C$83.33.

West Fraser Timber (TSE WFT) opened at C$84.83 on Friday. The firm has a market capitalization of $6,420.00, a PE 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 related 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 transaction of C$40,450,000.00.

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About West Fraser Timber

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.

Analyst Recommendations for West Fraser Timber (TSE:WFT)

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