INTERFOR FROM INDUSTRY LEADERS for the symbol TSX:IFP by BullishEffect — NewsOfFinance

One of the world’s largest timber and wood products manufacturing companies. Interfor Corporation ( IFP ), offers decking, fascia and trim, frames, furniture, industrial packaging, woodwork, panels, siding, lumber products for windows and doors.

It has approximately 3000 employees. IFP is listed on the Toronto Stock Exchange.

2022 was a year of decline for lumber prices, so the company’s revenues were affected. 2022/Q4 Last quarter reports will be announced on Thursday, February 9th. Q4 earnings per share forecast is negative, total revenue forecast is CAD 782 million. The company also announced that it will reduce its timber supply by 8% by April. After April, it will return to normal and there will be no supply restrictions.

The prices, which are affected by the cyclical fluctuations in 2022, may start to rise in 2023, when the world’s largest timber importer China reopens its borders, may erase some of the 2022 losses in the face of incoming demands, and I would definitely recommend you to read my comment and analysis about timber. I will leave the link below.

IFP Looking at the chart, prices are below the 52-week moving average, but have not dropped below 19.75 CAD since December 2020. Therefore, there is strong support at 19.75 level. Then it can be costed between the 20-23 band. It can provide good returns after the 2023/Q1 quarterly report.

IFP I have set two targets on the chart, the first is 27.03 and the other is 33.46. These levels are my expectations for this year. In the medium-long term IFP I expect its stocks to see 100 CAD levels.

The information, comments and opinions on this site are not within the scope of investment consultancy. The information contained herein is purely based on interpretation and is never definitive. Based on the comments here, this profile does not accept any responsibility for the losses that may arise from the decisions and commercial transactions of the investors.

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