National Bank Financial Updates Coverage on Conifex Timber with an Outperform Rating - Video Research Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2013) - National Bank Financial has updated coverage on Conifex Timber (TSXV: CFF). Following the announcement that the company's wholly-owned subsidiary, Conifex Power Limited Partnership, had closed its previously announced secured project financing, analyst Rupert Merer reiterated his outperform rating, and 12 month target price of $10.50, a premium of 41% to the $7.45 price the day the report was issued.
InvestmentPitch.com has produced a "video research alert" about Conifex Timber based on this report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Conifex" in the search box.
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The $102.7 million, from a syndicate of four institutional lenders, will finance the company's planned 36MW bioenergy power project in Mackenzie, British Columbia.
Conifex Timber is a softwood forest products company operating in the Northern Interior region of British Columbia. Its primary business is the manufacture of structural grade SPF dimension lumber products that are sold in the United States, Chinese, Canadian and Japanese markets. Following completion of this bioenergy facility, Conifex's business segments will be expanded to include power production.
For more information about National Bank Financial or to obtain a copy of their research report, contact your nearest National Bank Financial office. Their branches are listed on their website at www.nbf.ca.
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Barry Morgan, CFO