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Resolute Forest (RFP) Receives a Buy from CIBC

In a report released today, Hamir Patel from CIBC reiterated a Buy rating on Resolute Forest (RFPResearch Report), with a price target of C$19.00. The company’s shares closed last Tuesday at $10.76.

According to TipRanks.com, Patel is a 5-star analyst with an average return of 24.8% and a 55.8% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co, Stella-Jones, and Cascades.

Currently, the analyst consensus on Resolute Forest is a Moderate Buy with an average price target of $16.62.

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The company has a one-year high of $17.65 and a one-year low of $4.07. Currently, Resolute Forest has an average volume of 649.5K.

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Resolute Forest Products, Inc. provides forest products. It owns and operates pulp & paper mills, and wood products facilities located in the United States, Canada and South Korea. The company operates its business through the following segments: Newsprint, Specialty Papers, Tissue, Market Pulp and Wood Products. It also produces lumber and other wood products for the residential-construction and home-renovation markets, as well as for specialized structural and industrial applications. Resolute Forest Products was founded on January 25, 2007 and is headquartered in Montreal, Canada.

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