West Fraser Timber (WFT) Upgraded by CIBC to Outperform

CIBC upgraded shares of West Fraser Timber (TSE:WFT) from a neutral rating to an outperform rating in a research note released on Monday.

Several other equities analysts have also recently weighed in on the company. Raymond James set a C$100.00 price target on West Fraser Timber and gave the company a strong-buy rating in a report on Tuesday, October 23rd. BMO Capital Markets cut their price target on West Fraser Timber from C$82.00 to C$68.00 in a report on Friday, October 19th. Finally, TD Securities upgraded West Fraser Timber from a hold rating to a buy rating and raised their price target for the company from C$99.00 to C$102.00 in a report on Monday, July 23rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of C$90.33.

TSE WFT opened at C$67.95 on Monday. West Fraser Timber has a 1-year low of C$60.44 and a 1-year high of C$97.99.

In related news, insider Raymond William Ferris acquired 2,500 shares of the stock in a transaction dated Thursday, October 25th. The stock was acquired at an average cost of C$68.58 per share, with a total value of C$171,450.00. Also, insider Christopher Virostek acquired 600 shares of the stock in a transaction dated Thursday, September 20th. The stock was bought at an average cost of C$78.97 per share, with a total value of C$47,382.00.

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.

Further Reading: Cost of Capital

Analyst Recommendations for West Fraser Timber (TSE:WFT)

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