The Globe and Mail reports in its Friday, April 24, edition that Raymond James analyst Daryl Swetlishoff says his expectations for the first quarter "highlight a clear EBITDA inflection across lumber producers, with meaningful sequential improvement driven by stronger pricing and healthy utilization." The Globe's David Leeder writes that Mr. Swetlishoff says in a note: "We expect lumber-levered companies under coverage to meet or exceed consensus, with West Fraser, Interfor and Canfor tracking well ahead of Street expectations. Near-term fundamentals remain supportive into Q2, backstopped by firm order files and 7- to 19-per-cent quarter-to-date lumber price gains -- setting up for a potential step-change in earnings and positive FCF-inflection for select names." Mr. Swetlishoff has downgraded Canfor to "outperform" from "strong buy." Mr. Swetlishoff continues to target the shares at $17. Analysts on average target the shares at $15.84. While also believing "the duty backdrop is poised to turn more constructive in the back half of the year," Mr. Swetlishoff warns "seasonal softening in building materials pricing into the summer could weigh on sentiment" despite his "more constructive" near-term earnings outlook.