Western Forest Products’ (WEF) “Average” Rating Reaffirmed at Scotiabank
Scotiabank reiterated their average rating on shares of Western Forest Products (TSE:WEF) in a research report sent to investors on Friday. Scotiabank currently has a C$2.75 price target on the stock.
Several other equities analysts have also recently weighed in on WEF. TD Securities cut their price target on Western Forest Products from C$3.50 to C$3.25 and set a buy rating for the company in a report on Tuesday, August 7th. CIBC cut their price target on Western Forest Products from C$3.25 to C$3.00 in a report on Wednesday, August 8th. Finally, Raymond James cut their price target on Western Forest Products from C$1.60 to C$1.00 in a report on Monday, October 15th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Western Forest Products currently has an average rating of Buy and a consensus price target of C$2.50.
WEF remained flat at $C$1.90 on Friday. The company had a trading volume of 447,600 shares, compared to its average volume of 784,515. Western Forest Products has a 52 week low of C$1.74 and a 52 week high of C$2.95.
Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers lumber and logs from various tree species, such as western red cedar, hem-fir, Douglas fir, yellow cedar, and Sitka spruce.
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