West Fraser Timber Price Target Revised by TD Securities

West Fraser Timber (NYSE:WFG) recently saw a downgrade in its price target from $120.00 to $110.00, as reported by analysts at TD Securities in a note issued to investors on Friday. Despite this adjustment, TD Securities maintains a "buy" rating for the company, indicating confidence in its potential for growth.

The new price target suggests a possible upside of 35.58% based on the stock's previous closing price, reflecting optimism about the company's performance moving forward.

Recent Analyst Commentary

Other research analysts have also weighed in on West Fraser Timber’s stock. For instance, Scotiabank lowered its price target from $120.00 to $109.00 and issued a "sector outperform" rating. Similarly, Raymond James reduced its target from $115.00 to $105.00 while maintaining an "outperform" rating. In contrast, BMO Capital Markets raised their price goal from $105.00 to $115.00 and reinforced an "outperform" rating on the stock. Currently, five analysts have provided buy ratings for West Fraser Timber. According to MarketBeat data, the stock holds an average rating of "Buy" with an average price target set at $107.80.

Stock Performance Overview

During trading on Friday, shares of West Fraser Timber increased by $0.55, reaching $81.13. Approximately 135,446 shares were exchanged that day, with the average trading volume standing at 177,825. The company boasts a market capitalization of $6.30 billion, along with a P/E ratio of -63.42 and a beta of 1.22. West Fraser Timber's stock has ranged from a one-year low of $73.91 to a high of $102.40. Key moving averages include 50-day and 200-day averages of $87.68 and $90.69, respectively.

West Fraser Timber's most recent quarterly earnings report was published on February 12, where they reported earnings per share (EPS) of $0.08, surpassing analysts’ expectations of a loss of $0.55 by $0.63. The company also recorded a return on equity of 0.53% and a net margin of -1.53%. Analysts project earnings per share for the ongoing fiscal year to be around $1.59.

Institutional Investments

Changes among institutional investors reflect growing interest in West Fraser Timber. FIL Ltd increased its position by 35.5% during the last quarter, now holding approximately 5,041,873 shares valued at $436,861,000 after adding 1,319,843 shares. Norges Bank has also entered a new stake in the company worth about $81,605,000. Other investment firms, such as Price T Rowe Associates and FMR LLC, have also increased their holdings in West Fraser Timber, indicating a positive sentiment from institutional investors.

About West Fraser Timber

West Fraser Timber Co. Ltd. is a diversified wood products company that is engaged in the manufacturing, selling, marketing, and distributing various wood products, including lumber, engineered wood products, and renewable energy sources. Their product line encompasses various types of lumber, treated wood products, medium density fiberboard panels, oriented strand boards, and more, making them a key player in the wood products industry.

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