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RBC Capital Thinks Canfor’s Stock is Going to Recover

RBC Capital analyst Paul Quinn maintained a Buy rating on Canfor (CFPZFResearch Report) today and set a price target of C$40.00. The company’s shares closed last Thursday at $18.06, close to its 52-week low of $18.00.

According to TipRanks.com, Quinn is a top 100 analyst with an average return of 24.2% and a 63.3% success rate. Quinn covers the Basic Materials sector, focusing on stocks such as Rayonier Advanced Materials, GreenFirst Forest Products, and International Paper Co.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Canfor with a $34.64 average price target.

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Canfor’s market cap is currently $2.26B and has a P/E ratio of 2.11.

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Canfor Corp. operates as an integrated forest products company. It operates through the Lumber and Pulp and Paper segments. The Lumber segment deals with logging activities and manufactures wood chips, pellets and wood products. The Pulp and Paper segment produces and trades northern bleached softwood kraft and bleached chemi-thermo mechanical pulp. The company was founded by John G. Prentice and L.L.G. Bentley in 1938 and is headquartered in Vancouver, Canada.

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