West Fraser Timber price target raised to C$171 from C$164 at CIBC

CIBC analyst Hamir Patel raised the firm’s price target on West Fraser Timber (WFG) to C$171 from C$164 and keeps an Outperformer rating on the shares. The move higher largely reflects the firm’s weaker Canadian dollar forecast. Heading into 2025, CIBC generally continues to favor the packaging names over wood/building products. With limited signs of renovation spending rebounding this year given stubbornly high mortgage rates, the firm has tempered its demand expectations for wood products in 2025.