BUZZ-West Fraser Timber: Set for worst day in over 3 yrs on weak results

Wed Jul 22, 2015 11:06am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Canadian wood products maker down 6.3 pct at C$62.19, on track for worst day since October 2011

** Stock's fall for the seventh session in a row wipes out all gains year-to date

** West Fraser on Tuesday reported lower-than-expected Q2 profit and sales

** Company says results were hurt by slightly stronger C$, sharp fall in U.S. lumber prices and higher inventory writedowns

** 4 of 7 analysts covering the stock rate it "buy" or higher and 3 "hold"; their median PT is C$75 - both unchanged in the past 90 days