The Globe and Mail reports in its Tuesday, Feb. 14, edition that Credit Suisse analyst Andrew Kuske has reiterated his "outperform" ranking for West Fraser Timber. The Globe's David Leeder writes that Mr. Kuske's share target climbed $2 to $97 (all figures U.S.). Analysts on average target the shares at $107.33. Mr. Kuske says in a note: "We acknowledge some housing market headwinds, however, the rate debate, housing market trends in H2 2023 and industry actions that provide an interesting risk-reward for West Fraser Timber's shares. In general, lumber prices increased in recent weeks from past lows -- that should bode well for West Fraser's cash flow generation. With an industry rebalancing occurring on a potentially accelerated basis, West Fraser's discipline and positioning remains interesting at these levels." The Globe reported on Aug. 3 that CIBC analyst Hamir Patel continued to rate West Fraser "outperformer." It was then worth about $93. The Globe reported on Nov. 24 that Mr. Kuske rated West Fraser "neutral" in new coverage. It was then worth $81.59. The Globe reported on Jan. 25 that Mr. Kuske upgraded his recommendation for West Fraser to "outperform." The shares could then be had for $78.17.
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