Analyst Actions: BMO, CIBC, Salman Hike Price Targets on West Fraser Timber
At least three analysts have hiked their price targets on West Fraser Timber (WFT.TO) after the company reported $27 million in second-quarter profits last week and provided an encouraging outlook given signs that the U.S. housing market is recovering.
According to stocktargetprices.com, BMO Capital Markets raised its target to $60 and reiterated an outperform rating; CIBC World Markets raised its target to $65 from $56 and reiterated a sector outperform rating. Salman Partners raised its target to $56.50 from $54.50.
Shares in the company Friday spiked to a 52-week high of $53.70 after the earnings were released, but the stock is off 1.0% today.
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