Canfor Pulp Products Upgraded to Outperform at CIBC2023-05-01 07:22:36 AM ET (MT Newswires)
07:22 AM EDT, 05/01/2023 (MT Newswires) -- Canfor Pulp Products Inc. (CFX.TO) was upgraded to Outperform from Neutral at CIBC Capital Markets.
Analyst Amir Patel maintained a price target of C$3.50 on shares of the Vancouver-based pulp mills company.
"With Canfor Pulp recently falling below $2/share for the first time since May 2009, we believe current levels represent an attractive entry point," Patel said in a note to clients.
"At the same time, the depressed share price increases the likelihood that Canfor Corp. (CFP.TO) (which owns 54.8% of CFX) may look to acquire the whole business," the analyst said.