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Interfor Corp T.IFP

Alternate Symbol(s):  IFSPF

Interfor Corporation is a Canada-based forest products company. The Company and its subsidiaries produce wood products in Canada and the United States for sale to markets around the world. It operates through the solid wood products segment. The Company’s product categories include Dimension Lumber, Specialty Lumber and Engineered Wood Products. Its products include Spruce-Pine-Fir, Douglas Fir-Larch, Hem-Fir, Southern Yellow Pine, Western Red Cedar, Douglas Fir-Larch, and P3-Joist. Its sawmills provide a diverse range of sustainable products to supply North American markets with a complete offering of framing materials. Its Western Red Cedar products include Elite Decking, Elite Fascia & Boards, Elite V-Joint Paneling, Elite Fineline Paneling, Elite Channel/Lap Siding, Elite Bevel Siding and Elite Shadow Gap Siding. It has an annual lumber production capacity of approximately 5.0 billion board feet and offers a diverse line of lumber products to customers around the world.


TSX:IFP - Post by User

Post by retiredcfon Apr 13, 2021 9:33am
201 Views
Post# 32984066

Significant CIBC Upgrade

Significant CIBC Upgrade

CIBC analyst Hamir Patel downgraded Acadian Timber Corp. (ADN-T) to “underperformer” from “neutral,” citing underwhelming softwood sawlog pricing appreciation in New Brunswick despite robust lumber markets. He has a price target of $17 on the stock. 

“Log prices in New Brunswick have been sluggish due to the provincial government’s perplexing decision to leave royalty rates on crown timber unchanged for the past six years. While Acadian has attractive ESG attributes and is well positioned to pursue growth opportunities, we do not expect much activity from the company until a new CEO is in place (which may not happen until closer to the expiry of the transitional management team’s role in September 2021),” he commented.

But Mr. Patel raised price targets on several other forest products stocks as he bumped up his assumptions for lumber and oriented strand board pricing through 2022. He cautioned, however, that he expects prices to moderate next year as record profitability incentivizes more capacity to come onstream. 

He raised price targets on Canfor (from C$35 to C$41), Canfor Pulp (from C$10 to C$11), CanWel (from C$9.50 to C$10.50), Conifex (from C$2.50 to C$3.00), Domtar (from $37 to $41), Hardwoods (from C$38 to C$39), Interfor (from C$37 to C$50)Mercer (from $17 to $19), Resolute (from $11 to $14), Stella-Jones (from C$57 to C$60), West Fraser (from C$120 to C$135) and Western FP (from C$1.90 to C$2.50). He lowered his price target on Cascades (from C$19 to C$18) given reduced earnings estimates.

He further commented: “Our top pick is West Fraser. Our other Outperformer wood products names include Interfor, Canfor, Resolute and Western FP. We also remain constructive on Stella-Jones and Hardwoods, two names with attractive M&A pipelines and exposure to residential construction. We also believe SJ is an underappreciated beneficiary from significant pole demand over the next decade associated with the electrification of mobility. On the paper and packaging side, we continue to favour Mercer given its pulp pricing leverage and growing lumber business.”

 
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