CIBC analyst Hamir Patel upgraded Interfor (IFSPF) to Neutral from Underperformer with a C$10 price target Shares are being upgraded due to rising U.S. South lumber prices, which support profitability, and Interfor’s ongoing balance sheet improvement following Q4 equity and covenant relief measures, though elevated mortgage rates and Middle East-driven inflationary pressures continue to weigh on housing demand and overall market outlook, the analyst tells investors in a research note.
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Read More on IFSPF:
- Interfor upgraded to Neutral from Underperformer at CIBC
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- Interfor Deepens Q4 Loss but Bolsters Liquidity Amid Prolonged Lumber Slump