Deutsche Bank Maintains Hold on Louisiana-Pacific (LPX)

Deutsche Bank is out with its report today on Louisiana-Pacific

, maintaining Hold. In a note to clients, Deutsche Bank writes, "After a long and painful cyclical downturn, the worst appears to be over for LPX & the wood products markets. While the level of new housing starts remains very low by historical standards, they appear to be improving gradually. Even with demand still weak, supply-side moves and modest demand gain have the market in reasonable balance. At the same time, LPX has refinanced near-term maturities, and it has made internal cost cuts to improve cash flow. We expect the company's operations to be cash-flow-positive going forward. We now have the confidence to look forward to cyclical improvement toward normalized conditions, which should arrive within the next three years. Hold." Deutsche Bank has a $10 PT on LPX. Shares of LPX closed Friday at $10.15, up 1.10% from Thursday's close.