00:41:44 EDT Sat 10 Jun 2023
Enter Symbol
or Name

West Fraser Timber Co Ltd
Symbol WFG
Shares Issued 99,371,752
Close 2022-06-17 C$ 101.68
Recent Sedar Documents

Globe says West Fraser kept at "sector outperform"

2022-06-20 07:20 ET - In the News

The Globe and Mail reports in its Saturday, June 18, edition that Scotia Capital analyst Benoit Laprade sees the prices for wood products, including lumber, finishing above his projections in the second quarter. The Globe's David Leeder writes that Mr. Laprade, however, expects a decline through the remainder of the year and into 2023. Accordingly, Mr. Laprade cut his share target for West Fraser Timber to $143 from $157. Analysts on average target the shares at $121.93. Mr. Laprade continues to rank West Fraser Timber "sector outperform." The Scotia Capital stockpicker says in a note: "As expected, lumber prices have dropped significantly from unusually high levels and Q2/22 prices are now expected to average $805 and $680 for W.SPF and SYP (up from the previously expected $625 and $650). However, high(er) mortgage rates combined with inflation running at decades-high levels have created growing uncertainty, leading to extremely cautious lumber buying patterns. With SPF prices now estimated to be at, or very close to, breakeven for the average B.C. producer and with stumpage rates expected to increase on July 1, we expect prices to stabilize soon as buyers likely have to resume purchases to meet ongoing customers' needs."

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