Credit Suisse Starts West Fraser Timber Co. Ltd. (WFG) at Neutral

Credit Suisse analyst Andrew Kuske initiates coverage on West Fraser Timber Co. Ltd. (NYSE: WFG) with a Neutral rating and a price target of $100.00.

The analyst comments "We initiate West Fraser Timber Co. Ltd. (WFG) coverage with a Neutral rating and a US$100 target price as part of our Materials sub-sector coverage in the broader universe. In our view, WFG offers interesting and large-scale lumber and oriented strand board (OSB) exposure in North America and OSB in selected European markets. WFG holds roughly a 10% market share of North American lumber along with a ~30% share of OSB markets after the 2021 Norbord acquisition. We like the company’s positioning and longer-term approach to value creation, however, housing market dynamics (i.e., generally decelerating trends), declining lumber and OSB prices from past peaks keep us on the sidelines. A combination of improved housing trends, greater commodity prices or a lower share price would support a more constructive outlook."

For an analyst ratings summary and ratings history on West Fraser Timber Co. Ltd. click here. For more ratings news on West Fraser Timber Co. Ltd. click here.

Shares of West Fraser Timber Co. Ltd. closed at $83.85 yesterday.

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