17:39:21 EST Tue 05 Dec 2023
Enter Symbol
or Name

West Fraser Timber Co Ltd
Symbol WFG
Shares Issued 81,273,936
Close 2023-04-27 C$ 97.80
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Globe says West Fraser seen trading at a good price

2023-04-27 08:24 ET - In the News

The Globe and Mail reports in its Thursday, April 27, edition that Raymond James analyst Daryl Swetlishoff recommends taking advantage of share price weakness at West Fraser Timber. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Swetlishoff continues to target the shares at $145. Mr. Keith notes that West Fraser Timber's latest quarterly earnings were a miss relative to Street expectations. Mr. Swetlishoff, however, sees tighter forest products markets on tap for the second half of this year and is urging investors to buy the dip. Mr. Swetlishoff says in a note: "The largest, most liquid stock in our coverage universe with attractive product and geographic exposure, West Fraser is a go to for investors seeking building products exposure. Inventory write down impacts and weak quarterly OSB (oriented strand board) prices drove an adj. EBITDA miss of $71-million (vs. consensus at $103-million) though adj. lumber earnings turned positive on sequential cost improvements. Net cash levels roughly halved q/q coming in at $309-million (U.S.), however, we highlight the bulk of this is driven by Western Canadian inventory builds -- which typically reverse in the back half of the year."

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