Trimming Near-Term Lumber Forecast on Weaker-Than-Expected Housing Starts; Canfor Remains a Top Pick
As discussed in our Aug. 17 note, we've adjusted our 2016 housing starts forecast as single-family activity through July has been weaker than expected. Our single-family forecast slips to 795,000 units from 845,000, while our multifamily forecast rises to 390,000 units from 375,000. While we remain bullish on the longer-term outlook for housing, we now expect total starts of 1.19 million in 2016, or a 7% improvement from 2015.Accordingly, we've made some changes to our near-term price forecast...
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.
We have operations in 27 countries.
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