Opinions John Stephenson
Canfor CorpCFP.TOCOMMENTSep 23, 2016
John StephensonUnknown
$14.48
Stock price when the opinion was issued
$13.81
As of Jun 04, 2026. Market Open.
west coast forestry
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WEAK BUY
Homebuilding stocks in the US have been going straight up, but Canadian forestry stocks have been going the other way. WFG has done the best in holding its share price.
IFP and CFP have really started to bottom on the charts. He hasn't done enough digging to know who has a better earnings profile. But looking at the charts, one of these might be a good bet to catch up to WFG and to the US homebuilders. Lower interest rates will have an impact as well.
west coast forestry
WATCH
Shows the struggles in forestry and wood products. Now in the part of the cycle of reducing capacity. US market is what will drive the upside, but rebound could be 3 months or 2 years away. You could start looking at it.
Jamie Murray No
west coast forestry
PAST TOP PICK
(A Top Pick Jul 02/21, Down 8%) Will continue to hold as still thinks a strong company.
Currently trading at 2x earnings.
Stock very attractive at current price.
Volatility in lumber pricing creating opportunity for long term investors.
Alex RuusOwned
west coast forestry
PAST TOP PICK
(A Top Pick Jul 02/21, Down 3%) A play over the next year. If you look at housing demand in US and Canada over the next 5 years, there will be increasing demand for lumber. Trading at only 2x this year's earnings. Earnings for 2022 will be solid.
Alex RuusOwned
west coast forestry
PAST TOP PICK
(A Top Pick Aug 12/20, Up 79%) Pattison tried to buy them last year. He bought this as shares went well, and has since rallied strongly. He bought this for the housing boom, but the lumber price surge surprised him. Recently, lumber prices have weakened, but lumber is still at near-historic highs. He expects lumber to rise again.
Jason MannOwned
west coast forestry
TOP PICK
Largest operator in North America of lumber mills. After a decade of low lumber prices, Canadian lumber capacity has severely curtailed. This gives the backdrop for huge cash flows out of forest products area. Trading at 2x 2021 earnings. Could double over the next year. (Analysts’ price target is $43.00)
Alex RuusOwned
west coast forestry
BUY
The commodity price is the big driver. New home building is strong as is renovation. A lot of supply was take out going into COVID. It is hard for them to ramp up any capacity so the prices continue to be high. Having a very large shareholder makes them a little more focused on the longer term and support of a major shareholder is never a bad idea. She thinks the price of lumber will be higher for longer.
Jennifer RadmanOwned
west coast forestry
Valuation is very cheap. Lumber is a hugely contentious issue between Canada and the US, which is one of the problems this industry faces. Also, household formations have changed and many generations are just opting to live in condos, etc. There are under 1 million units currently in the US versus 1.4 million historically. He doesn’t think this is going to pick up meaningfully. Any little uptick will be positive for it.