Raymond James upgraded PotlatchDeltic (PCH) to Outperform from Market Perform with a $45 price target The firm upgraded the two timber real estate investment trusts citing improving lumber fundamentals and “deep valuation discounts.” The analyst sees a steadily improving backdrop forming for lumber price fundamentals. The market “might be throwing the baby out with the bath water,” as the lumber markets are beginning to “act decidedly more positive” heading into 2025, the analyst tells investors in a research note. Raymond James highlights the 12% quarter-over-quarter improvement in cash market pricing for the random lengths lumber composite in Q4 and believes the seasonal bottom for lumber pricing has already been made.
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Read More on PCH:
- PotlatchDeltic price target lowered to $48 from $50 at RBC Capital
- 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)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
