Shares of Interfor Corp (TSE:IFP) hit a new 52-week high on Friday after CIBC raised their price target on the stock from C$25.00 to C$27.00. The stock traded as high as C$23.36 and last traded at C$21.70, with a volume of 285628 shares changing hands. The stock had previously closed at C$21.66.
Several other brokerages also recently weighed in on IFP. Raymond James Financial raised their target price on Interfor from C$28.00 to C$29.00 and gave the company a “strong-buy” rating in a research note on Friday, November 3rd. Scotiabank raised their target price on Interfor from C$23.50 to C$24.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. TD Securities raised their target price on Interfor from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Finally, Royal Bank of Canada raised their target price on Interfor from C$23.00 to C$24.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of C$24.14.
The stock has a market cap of $1,610.00, a PE ratio of 18.36 and a beta of 2.44.
Interfor Corporation is a Canada-based lumber provider. The Company and its subsidiaries produce wood products in British Columbia, the United States Northwest and the United States South for sale to markets around the world. The Company operates through solid wood segment. The Company offers a range of products, including Clear Cedar Finger Joint Bevel Siding, Clear Cedar Solid Bevel Siding, Clear Cedar V-Joint Paneling, Dimension Lumber, Elite Cedar 5/4 Radius Edge Decking, Elite Cedar V-Joint Paneling, Elite Knotty Cedar Decking, Fineline Paneling, Japan Zairai-Beams, Japan Zairai-Ground Sill, Japan Zairai-Posts, Japan Zairai-Roof Structure, Japan Zairai-Small Structural, Reserve Boards, Reserve End-Matched Paneling, Reserve Lodgepole Pine Paneling, Reserve V-Joint Decking, Special Appearance Grade Cedar Timbers, Reserve Ponderosa Pine Paneling and Studs.
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