09:35:18 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 76,809,010
Close 2016-10-13 C$ 39.68
Market Cap C$ 3,047,781,517
Recent Sedar Documents

Post says West Fraser, others may come under pressure

2016-10-13 07:02 ET - In the News

Also In the News (C-CFF) Conifex Timber Inc
Also In the News (C-CFP) Canfor Corp
Also In the News (C-IFP) Interfor Corp
Also In the News (C-RFP) Resolute Forest Products Inc
Also In the News (C-WEF) Western Forest Products Inc

The Financial Post reports in its Thursday edition that with the U.S. Lumber Coalition free to file a new trade case against Canadian lumber producers as early as today, share prices across the sector are expected to come under pressure. The Post's Jonathan Ratner, writing in Trading Desk, says that West Fraser, Canfor, Interfor, Resolute, Western Forest and Conifex are all vulnerable, as the market reacts to potentially negative developments relating to yet another lumber dispute, according to CIBC World Markets analyst Hamir Patel. He warned that duties may come in earlier and higher than previously expected. Mr. Patel downgraded Western Forest to sector performer (from sector outperformer), but kept his $2.50 price target on the stock. He pointed to the growing risk of more severe log export restrictions as early as the second half of 2017 (if the NDP wins the next provincial election in British Columbia), and uncertainty about how duties will impact pricing for cedar, which accounts for nearly half of the company's lumber sales. The analyst also downgraded Interfor to sector performer (from sector outperformer), but kept a $17 price target, even though 64 per cent of its lumber capacity is in the U.S.

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