08:22:42 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 80,177,014
Close 2016-04-08 C$ 45.23
Market Cap C$ 3,626,406,343
Recent Sedar Documents

Globe says West Fraser reduced to "neutral" from "buy"

2016-04-11 07:51 ET - In the News

The Globe and Mail reports in its Saturday, April 9, edition that Dundee Securities analyst Stephen Atkinson has lowered his rating on West Fraser Timber ($45.23) to "neutral" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Atkinson also cut his share target to $54 from $60. Analysts on average target the shares at $56.14. The change in stance came after Mr. Atkinson revised his estimates and ratings for wood products. Mr. Atkinson says: "Lumber prices have rallied owing to the seasonal surge in demand combined with low inventories. We expect prices to decline in April as production catches up to demand. Alternatively viewed, we do not believe United States housing starts are strong enough to maintain prices at current levels." CIBC World Markets analyst Mark Kennedy maintained West Fraser at "sector performer" in the Eye column on April 28, 2015. In the item, Mr. Kennedy shaved his share target to $70 from $76. The shares could then be had for $63.77. The Globe's David Milstead wrote a bearish piece on West Fraser on Nov. 9, 2015. He warned that rising interest rates could hurt stocks with high yields, like West Fraser. The shares were then trading at $46.73.

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