West Fraser Timber price target raised to $120 from $100 at Scotiabank

Scotiabank raised the firm’s price target on West Fraser Timber (WFG) to $120 from $100 and keeps an Outperform rating on the shares. While Q3 was weaker than expected, the firm encourages investors to “look through results and buy the stock” as the argues that North Amercian lumber capacity curtailments are “more than sufficient to tighten the market when demand returns to a normal state.”