The Globe and Mail reports in its Friday, Feb. 9, edition that CIBC World Markets analyst Hamir Patel has reaffirmed his "outperformer" recommendation for Interfor. The Globe's David Leeder writes in the Eye On Equities column that Mr. Patel gave his share target a $5 haircut to $25. Analysts on average target the shares at $29.17.
Mr. Patel says in a note, "While we are cautiously optimistic on demand prospects for the spring selling season (getting underway in the U.S. in early February), much stronger lumber prices still seem to be a 2025 story given the ongoing presence of European imports." The Globe reported on Oct. 22, 2021, that Mr. Patel had downgraded Interfor to "neutral" from "outperform." He said he did not see much upside ahead. Interfor shares could then be had for $31.24. The Globe reported on April 21, 2023, that Mr. Patel had upgraded Interfor to "outperformer." The shares could then be had for $23.31. The Globe reported on Jan. 23, 2024, that Scotia Capital analyst Ben Isaacson rated Interfor "sector outperform" in new coverage, with a $29 share target. The shares could then be had for $21.52.
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