Industry on the rebound: Seeking growth among forestry stocks [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Industry on the rebound: Seeking growth among forestry stocks What are we looking for? Canadian forestry stocks with strong fundamentals and recent price momentum. Most wood products and forestry stocks performed well for Canadian investors in recent years, driven by a strong U.S. housing sector and demand for building products. Red-hot demand for Canadian wood products pushed many forestry stocks to new highs in early 218. However, falling lumber prices and signs of a slowing U.S. housing market began to take their toll in mid-218, creating a perfect storm of disappointments for this industry. However, these stocks may have found a bottom in late December and have recovered well over the subsequent weeks. In fact, the forestry and wood products industry is one of the TSX’s best performing industries over the past month, up 1.8 per cent. Can we find Canadian forestry and wood products companies with attractive valuations, solid balance sheets and strong price momentum? Story continues
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