West Fraser Timber (WFT) Given New C$115.00 Price Target at CIBC

West Fraser Timber (TSE:WFT) had its target price increased by analysts at CIBC from C$113.00 to C$115.00 in a research note issued on Tuesday. CIBC’s target price points to a potential upside of 22.02% from the company’s current price.

Several other research firms have also commented on WFT. BMO Capital Markets increased their price target on West Fraser Timber from C$74.00 to C$76.00 in a research note on Friday, February 16th. Scotiabank increased their price objective on shares of West Fraser Timber from C$82.00 to C$85.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. Raymond James Financial increased their price objective on shares of West Fraser Timber from C$97.00 to C$120.00 in a report on Tuesday, April 10th. TD Securities increased their price objective on shares of West Fraser Timber from C$87.00 to C$91.00 and gave the company a “hold” rating in a report on Friday, February 16th. Finally, Royal Bank of Canada raised shares of West Fraser Timber from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from C$60.00 to C$80.00 in a report on Friday, January 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of C$96.17.

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Shares of TSE WFT traded up C$2.74 during midday trading on Tuesday, hitting C$94.25. 138,463 shares of the stock traded hands, compared to its average volume of 282,514. West Fraser Timber has a one year low of C$55.67 and a one year high of C$94.64.

West Fraser Timber (TSE:WFT) last posted its quarterly earnings data on Wednesday, February 14th. The company reported C$2.58 EPS for the quarter. The firm had revenue of C$1.38 billion during the quarter. West Fraser Timber had a return on equity of 31.45% and a net margin of 15.04%.

In related news, Director Gillian Winckler bought 750 shares of West Fraser Timber stock in a transaction dated Tuesday, March 27th. The shares were acquired at an average cost of C$83.34 per share, with a total value of C$62,505.00. Also, insider James A. Pattison sold 11,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of C$89.48, for a total transaction of C$993,228.00.

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About West Fraser Timber

West Fraser Timber Co Ltd. produces and sells lumber, panels, and pulp and paper in western Canada and the southern United States. The company offers spruce/pine/fir and southern yellow pine lumber, as well as newsprint, wood chips, and lignin. It also provides treated wood, medium density fiberboard panels, laminated veneer lumber panels, and plywood; northern bleached softwood Kraft pulp used to produce various paper products, including printing and writing papers, specialty grades, and various tissue products; and bleached chemical thermo-mechanical pulp that is used to produce coated board grades, printing and writing paper, and paper towel/napkin grades, as well as specialty papers and tissue grades.

Analyst Recommendations for West Fraser Timber (TSE:WFT)

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