Western Forest Products Inc (TSE:WEF)’s share price rose 2% during trading on Tuesday . The company traded as high as C$2.55 and last traded at C$2.51. Approximately 728,401 shares traded hands during trading, a decline of 21% from the average daily volume of 923,268 shares. The stock had previously closed at C$2.56.
WEF has been the topic of a number of recent research reports. CIBC lowered Western Forest Products from an “outperform” rating to a “neutral” rating in a research note on Monday, September 25th. Scotiabank lifted their price target on Western Forest Products from C$2.85 to C$2.90 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Raymond James Financial, Inc. lifted their price target on Western Forest Products from C$3.25 to C$3.50 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Finally, TD Securities lifted their price target on Western Forest Products from C$2.75 to C$3.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of C$2.88.
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About Western Forest Products
Western Forest Products Inc is a softwood forest products company, operating in the coastal region of British Columbia. The Company’s primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and lumber remanufacturing. The Company’s log and lumber products are sold throughout the world.
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