West Fraser Timber Co. Ltd. (WFG.TO, WFG) was downgraded to Outperform from Strong Buy at Raymond James.
Analyst Daryl Swetlishoff lowered his price target on shares of the Vancouver-based forestry company to US$115 from US$120.
Swetlishoff said the downgrade was a result of WFG's valuation and the 12% cut to his 2026 EBITDA estimate.
"We are downgrading West Fraser... reflecting lower upside availability," the analyst said in a note to clients.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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