CIBC Adjusts Price Target for West Fraser Timber

Investment firm CIBC has revised its target price for West Fraser Timber (TSE:WFG), lowering it from C$171.00 to C$170.00 as stated in a research note released on Tuesday. This adjustment indicates a potential upside of 49.25% compared to the current market price of the company's shares.

In a separate announcement, Raymond James has also downgraded West Fraser Timber, shifting its rating from a "strong-buy" to a "moderate buy" as of January 20th.

West Fraser Timber Performance

During trading on Tuesday, West Fraser Timber's stock rose by C$0.89 to reach a price of C$113.90. The trading volume stood at 91,296 shares, which is under the average volume of 138,235 shares. The company has a debt-to-equity ratio of 7.39, a current ratio of 1.82, and a quick ratio of 2.10. Over the past year, the stock has experienced a low of C$100.84 and a high of C$141.27. Currently, West Fraser Timber has a market capitalization of C$6.34 billion and a price-to-earnings ratio of -68.10, along with a beta of 2.03. Additionally, the stock's 50-day and 200-day moving averages are C$125.04 and C$126.28, respectively.

About West Fraser Timber

West Fraser Timber Co Ltd. is a diversified wood products company that specializes in the manufacturing, selling, marketing, and distributing of various wood products. The company’s offerings include lumber, engineered wood products, pulp, newsprint, wood chips, and renewable energy. It provides a variety of lumber types including spruce-pine-fir, douglas fir-larch, and southern yellow pine, as well as treated wood products, medium-density fiberboard panels, and oriented strand boards.

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