Scotiabank upgraded Canfor (CFPZF) to Sector Perform from Underperform with a price target of C$16, up from C$13. The firm sees value in the forestry space, saying the group trades at 20% to 40% below mid-cycle fair values, with EBITDA set to improve through 2027. Lumber names should rally through spring, the analyst tells investors in a research note.
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