Scotiabank Scotia’s Ben Isaacson cut his Interfor Corp. (
) target to $24 from $26 with a “sector outperform” rating. The average is $22.83.
“Despite a rough quarter for IFP and the industry, which brings our PT slightly lower, we think now is the time for investors to build an initial position in IFP: (1) demand signals are improving; (2) supply rationalization is accelerating; (3) the balance sheet is stable and should remain so near-term; (4) valuation looks interesting; and (5) sentiment can’t get much worse, which as contrarians, we love,” said Mr. Isaacson.