Royal Bank of Canada Boosts Western Forest Products (WEF) Price Target to C$3.00

Western Forest Products (TSE:WEF) had its price objective increased by Royal Bank of Canada from C$2.50 to C$3.00 in a research report sent to investors on Tuesday morning. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other brokerages have also recently weighed in on WEF. Scotiabank raised their target price on Western Forest Products from C$2.85 to C$2.90 and gave the company an outperform rating in a research note on Friday, November 3rd. Raymond James Financial raised Western Forest Products from an outperform rating to a strong-buy rating in a research note on Tuesday, January 30th. Finally, CIBC raised Western Forest Products from a neutral rating to an outperform rating and raised their target price for the company from C$3.00 to C$3.25 in a research note on Friday, January 12th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of C$3.25.

Western Forest Products (WEF) opened at C$2.78 on Tuesday. Western Forest Products has a 52 week low of C$2.03 and a 52 week high of C$2.90. The firm has a market capitalization of $1,100.00, a PE ratio of 14.63 and a beta of 0.80.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Thursday, March 1st will be given a $0.02 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.88%. Western Forest Products’s dividend payout ratio (DPR) is 42.11%.

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About Western Forest Products

Western Forest Products Inc operates as an integrated softwood forest products company. The company’s activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. It offers products of various tree species, such as western red cedar, hem-fir, douglas fir, yellow cedar, and sitka spruce.

Analyst Recommendations for Western Forest Products (TSE:WEF)

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