The Globe and Mail reports in its Wednesday, Feb. 7, edition that Raymond James analyst Daryl Swetlishoff has lowered his recommendation for Canfor to "outperform" from "strong buy." The Globe's David Leeder writes that Mr. Swetlishoff gave his share target a $2 trim to $23. Analysts on average target the shares at $23.50. Mr. Swetlishoff expects fourth quarter earnings season for building materials producers to "cap off an overall difficult 2023 with a thud," predicting weakening results that fall short of the Street's expectations. Mr. Swetlishoff says in a note: "With lumber prices seeing downward pressure through 4Q23, temporarily falling below costs across most NA markets, we are forecasting sequentially weaker earnings for our building materials coverage list. ... With larger absolute and relative B.C. exposure plus poor pulp earnings, we also expect Canfor to spill red ink despite the company's European asset platform providing a partial offset." The Globe reported on Sept. 26 that Mr. Swetlishoff had cut Canfor to "outperform" from "strong buy." It was then worth $16.96. The Globe reported on Nov. 8 that Mr. Swetlishoff had boosted Canfor back to "strong buy" when the shares could be had for $17.52.