The Globe and Mail reports in its Wednesday edition that CIBC analyst Hamir Patel has cut Interfor to "underperformer" from "neutral." The Globe's David Leeder writes that Mr. Patel cut his share target back by a loonie to $8. Analysts on average target the shares at $11.65. Mr. Patel says in a note: "We are downgrading Interfor given continued balance sheet risks in a prolonged weak commodity environment, while we are moving to the sidelines on West Fraser Timber with a 'neutral' rating (previously our only 'outperformer'-rated Canadian forestry name). While mid-cycle and capacity valuation metrics remain attractive, that was the case throughout each of the past two years when the group underperformed the TSX Composite by 28 per cent in 2024 and 60 per cent in 2025 year-to-date. We believe 30-year mortgage rates need to move materially lower (likely into the mid-5s) to unlock meaningful demand growth for wood products. We also adjust Canfor Pulp Products rating to 'tender.'" The Globe reported on Feb. 9, 2024, and July 19, 2025, that Mr. Patel rated Interfor "outperformer" when it could be had for $19.78 and $17.64. The Globe reported on Sept. 30 that Mr. Patel rated Interfor "neutral." It was then worth $10.22.