The Globe and Mail reports in its Friday, Jan. 23, edition that TD Cowen analyst Sean Steuart has named West Fraser Timber one of his "top picks." The Globe's David Leeder writes in the Eye On Equities column that Mr. Steuart gave his share target a $5 boost to $93 (all figures U.S.). Analysts on average target the shares at $79.36. Mr. Steuart says in a note: "Compelling valuation ahead of a cyclical earnings recovery. Trailing P/BV multiple of 0.8 times compares with the long-term average of 1.3 times and is near its lowest level since the end of the GFC. Trend (mid-cycle) TEV/EBITDA multiple of 4.2 times is below the company's long-term average trend multiple of 5.4 times. We argue for a wider premium based on West Fraser's defensive attributes, scale, growth platform and ROCE history. ... Flexible capital position near the cyclical trough supports strategic options. Abundant available liquidity (net cash of $3.14/share and available liquidity more than $1.6-billion) enables discretionary reinvestment, returns to shareholders (share buybacks and regular dividend) and opportunistic M&A. Consistent discretionary capex through the cycle underpins West Fraser's status as a best-in-class operator and cost leader."