RBC Capital analyst Matthew McKellar lowered the firm’s price target on PotlatchDeltic (PCH) to $48 from $50 and keeps an Outperform rating on the shares as part of a broader research note previewing 2025 for Paper & Forest Products names. The firm notes that the U.S. housing market is the main demand driver for the company’s Timberlands, Wood Products, and Real Estate businesses, but while it expects housing activity to remain challenged by affordability issues in the near and medium term, it sees long-term fundamentals remain supportive, the analyst tells investors in a research note. RBC adds that it sees a recovery in North American log prices over the next several years driven by long-term fundamentals for the U.S. housing market, long-term decline in Canadian supply due to the impact of the mountain pine beetle in British Columbia, and growing biomass demand.
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Read More on PCH:
- PotlatchDeltic upgraded to Outperform from Market Perform at BMO Capital
- PotlatchDeltic Releases Investor Presentation Materials Online
- PotlatchDeltic Reports Q3 2024 Earnings Amid Market Challenges
- PotlatchDeltic reports Q3 adjusted EPS 4c, consensus (6c)
- PCH Earnings Report this Week: Is It a Buy, Ahead of Earnings?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
