West Fraser Timber Co.Ltd (TSX:WFG)
C$ 110.62 -0.29 (-0.26%) Market Cap: 9.02 Bil Enterprise Value: 8.76 Bil PE Ratio: 0 PB Ratio: 0.92 GF Score: 86/100
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West Fraser Timber Co Ltd at Raymond James Institutional Investors Conference Transcript

Mar 07, 2022 / 08:25PM GMT
Release Date Price: C$118.15 (-4.53%)
Daryl Swetlishoff
Raymond James Ltd. - Analyst

Well, good afternoon, everybody. My name is Daryl Swetlishoff, and I'm a forest products analyst for Raymond James out of Vancouver, Canada. Very pleased to be down in Sunny Florida with you today. I'm here to introduce West Fraser, West Fraser Timber. I have a strong buy rating on this stock. There's 45% upside to my $140 US target. That's using five-year average pricing, which is about a third of current pricing. West Fraser is my topic for the year and is on our analyst current favorites list. I like this stock.

It's been quite a year for this company. They completed acquisition of Norbord plus some other M&A, growing by about 115%. Bought back and canceled 20% of the float. They've invested in their mills -- it's something they always do -- increased the dividend, and ended the year with still over $1 billion in net cash on the balance sheet. If I look at current pricing, they're conservatively generating around $400 million in free cash flow per month. Let that one sink in.

Despite all that, they're trading at 1.6 times last 12

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