15:28:26 EST Mon 04 Mar 2024
Enter Symbol
or Name

West Fraser Timber Co Ltd
Symbol WFG
Shares Issued 81,273,936
Close 2023-01-24 C$ 104.51
Market Cap C$ 8,493,939,051
Recent Sedar Documents

Globe says West Fraser Timber boosted to "outperform"

2023-01-25 07:48 ET - In the News

The Globe and Mail reports in its Wednesday edition that Credit Suisse analyst Andrew Kuske, in reaction to recent share price depreciation, elevated his recommendation for West Fraser Timber to "outperform" from "neutral." The Globe's David Leeder writes in the Eye On Equities column that Mr. Kuske, however, knocked his share target back by $5 to $95 (all figures U.S.). Analysts on average target the shares at $106.67. Mr. Kuske says in a note: "We fully acknowledge some housing market headwinds; however, the rate debate, housing market trends in H2 2023 and industry actions collectively provide an interesting risk-reward for West Fraser's shares, in our view. Continued deceleration of housing market trends, weaker lumber prices and, in some cases, higher underlying cost structures (for now) are motivating a collection of curtailments. Such actions will help rebalance parts of the market and are broadly supportive of our upgrade to 'outperform' thematically. ... Forest product stocks are notoriously cyclical and often with rather accentuated moves -- in both directions; the 'perfect timing' is typically elusive." The Globe reported on Nov. 24 that Mr. Kuske rated West Fraser "neutral." It was then worth $81.59.

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