00:09:30 EDT Sat 10 Jun 2023
Enter Symbol
or Name

West Fraser Timber Co Ltd
Symbol WFG
Shares Issued 85,054,705
Close 2022-08-03 C$ 116.31
Recent Sedar Documents

Globe says CIBC's Patel keen on West Fraser Timber

2022-08-03 07:20 ET - In the News

The Globe and Mail reports in its Wednesday, Aug. 3, edition that CIBC analyst Hamir Patel continues to rate West Fraser Timber "outperformer." The Globe's David Leeder writes in the Eye On Equities column that Mr. Patel boosted his share target to $156 from $124. Analysts on average target the shares at $122.48. Mr. Patel says in a note: "While Street estimates for 2023 look optimistic (particularly on the OSB side), valuation remains compelling. As the largest (and one of the lowest-cost) lumber and OSB producers, West Fraser Timber is well-positioned to navigate volatile wood markets. The company's strong balance sheet should support sustained large share repurchase activity (even as commodity prices moderate), and provide the company flexibility to consider additional growth opportunities. We also see potential M&A optionality in the name given the reported interest from major strategic holder, Kronospan." The Globe's guest columnist Ian Tam said on May 26 that West Fraser was down, but that it was a solid company that should see its shares rebound. The shares could then be had for $116.37. The Globe reported on June 25 that a West Fraser insider was seen buying shares, which were then worth $97.63.

© 2023 Canjex Publishing Ltd. All rights reserved.