Western Forest Products (WEF) Upgraded at CIBC
Western Forest Products (TSE:WEF) was upgraded by equities research analysts at CIBC from a “neutral” rating to an “outperform” rating in a research note issued on Friday. The firm presently has a C$3.25 target price on the stock, up from their prior target price of C$3.00. CIBC’s price objective indicates a potential upside of 21.72% from the company’s previous close.
Several other equities analysts also recently weighed in on the company. Raymond James Financial increased their target price on Western Forest Products from C$3.25 to C$3.50 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. Scotiabank increased their target price on Western Forest Products from C$2.85 to C$2.90 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of C$2.98.
Western Forest Products (TSE WEF) opened at C$2.67 on Friday. Western Forest Products has a 12-month low of C$1.79 and a 12-month high of C$2.84. The firm has a market capitalization of $1,060.00, a PE ratio of 11.61 and a beta of 0.65.
About Western Forest Products
Western Forest Products Inc operates as an integrated softwood forest products company. The companys 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.
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