Canfor Pulp Products Inc T.CFX

Alternate Symbol(s): CFPUF

Forest Products Paper & Paper Products

Canfor Pulp Products Inc. is a Canada-based global supplier of pulp and paper products with operations in the central interior of British Columbia (BC). The Company operates through two segments: pulp and paper. The pulp segment includes purchase of residual fiber, and production and sale of pulp products, including Northern Bleached Softwood Kraft (NBSK) pulp and Bleached Chemi-Thermo Mechanical Pulp (BCTMP), as well as energy revenues. The paper segment includes production and sale of paper products, including bleached, unbleached, and colored paper. Its products under the solid wood category include dimension lumber, specialty lumber, and engineered wood products. It produces green energy in its lumber and pulp facilities across North America. The Company owns and operates three mills in Prince George, BC with a total capacity of about 780,000 tons of Premium Reinforcing Northern Bleached Softwood Kraft (NBSK) Pulp and 140,000 tons of kraft paper.

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Canfor Pulp Products Inc

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Post by dosperroson Mar 23, 2023 12:15am

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Post# 35355229

RBC Take @ $6/share - lowest multiple I've seen (4x)

Valuation (3/1/2023): Our $6 price target is based on a blended 4.0x EV/EBITDA multiple on our trend EBITDA of $125MM (weighted 85%) and our 2023 EBITDA estimate (weighted 15%) of $68MM. We believe that Canfor Pulp shares should trade below the typical range for Canadian Paper and Forest Products companies (5.0x to 7.0x) given tightening fiber supply in BC and the companys concentrated ownership. Our price target supports our Outperform rating.

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