The Incoming Wave of Millennial Household Formation Will Lift Lumber Prices From Current Levels
Canfor announced that it will take the equivalent of 55 million board feet of downtime in the first quarter of 2019, an extension from that announced for the fourth quarter. Accordingly, we've slightly trimmed our near-term outlook to reflect lower prices and reduced production. This reduces our fair value estimate to CAD 23 per share from CAD 23.50. Our no-moat rating is unchanged.After Western SPF benchmark lumber prices hit nearly $560 per million board feet in May due to a number of transpo...
Canfor is an integrated forest products company with facilities in Canada and the U.S. Co. has two reportable segments: Lumber and Pulp and Paper. The Lumber segment includes logging operations, and manufacturing and sale of various grades, widths and lengths of lumber, engineered wood products, wood chips and wood pellets. The Pulp and Paper segment includes purchase of residual fibre, and production and sale of pulp and paper products, including Northern Bleached Softwood Kraft and Bleached Chemi-Thermo Mechanical Pulp as well as energy revenues.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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