The Globe and Mail reports in its Tuesday, Sept. 26, edition that in a research note released Monday titled Time to Shake the Money Tree, Raymond James analyst Daryl Swetlishoff lowered his recommendation for Canfor to "outperform" from "strong buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Swetlishoff's share target slid back $4 to $28. Analysts on average target the shares at $30.20. Mr. Swetlishoff says in a note: "With sector shares at trough valuations, lumber prices trading below cash costs and the seasonal trade around the corner we encourage investors to revisit the 'Tree Sector' investment thesis. After a brief summer rally, WSPF lumber prices have retreated with cash sitting at $403 (U.S.) per mfbm [thousand board feet] (and futures trading at a material discount). This compares to B.C. interior cash costs of $500 (U.S.) to $525 (U.S.). Structural panels have performed much better with OSB spot pricing holding at $500 (U.S.)/msf pushing 3Q23 average prices 65 per cent sequentially higher. Meanwhile, forest company shares have sold off -- now trading at the low end of valuation ranges on every metric. ... We remain in the bullish camp."