BMO Capital upgraded Weyerhaeuser (WY) to Outperform from Market Perform with an unchanged price target of $38. The firm believes higher export duties on lumber coming from CN will push prices higher and will benefit producers like Weyerhaeuser with a greater mix of production in the U.S. A rally in oriented strand board prices provides further upside to near-term estimates, the analyst tells investors in a research note. BMO finds the stock’s valuation attractive at current levels.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
