The Globe and Mail reports in its Saturday edition that a West Fraser
Timber ($63.87) director bought shares after Jim Pattison
revealed an interest in the company. The Globe's Ted
Dixon writes in the Who's Buying and Selling column that West Fraser has significant operations
in Western Canada. West
Fraser's share price is up about 7
per cent over the past three
months. On the first day of September,
a director spent $64,215
picking up shares in the public
market. Earlier in May, West Coast
billionaire Jim Pattison filed an
opening balance of 7,926,000
common shares, making him a
West Fraser 10-per-cent holder. Mr. Pattison is also
a big holder of Canfor stock. The Globe's Eye On Equities column reported on June 28 that Raymond James analyst Daryl Swetlishoff rated West Fraser "outperform," with a $67 share target. The shares were then worth $62.22. The Eye column on July 11 reported that Raymond James analyst Daryl Swetlishoff was bullish on West Fraser and Canfor when they could be had for $60.66 and $19.44. On July 26 the Eye column reported that CIBC analyst Hamir Patel reiterated his "hold" rating, while bumping up his share target to $66 from $62. The shares were then going for $63.66.
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