Report
Charles Gross

Favorable demographics and labor markets are set to boost lumber and panel sales for West Fraser.

West Fraser's rapid earnings growth progressed in line with our expectations through the fourth quarter. The company has been a significant beneficiary of rapidly rising wood product prices throughout North America. Favorable pricing, along with robust local and export demand, drove consolidated adjusted EBITDA more than 70% higher to CAD 1.16 billion in 2017. We've slightly increased our fair value estimate to CAD 72 per share from CAD 71 due to time-value-of-money effects.
Lumber segment perfo...
Underlying
West Fraser Timber Co. Ltd.

West Fraser Timber is an integrated wood products company producing lumber, newprint, wood chips, plywood, panels and pulp and paper products.

Provider
Morningstar
Morningstar

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.

Analysts
Charles Gross

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