BMO: Louisiana-Pacific's Results in Line
BMO Capital Markets says Louisiana-Pacific's (NYSE: LPX) results will stay in line, as it maintains its Underperform rating and a target price of $6.00 on the stock.
BMO states, "We estimate Q3/11 EPS from continuing operations of ($0.19) compared to the First Call Mean of ($0.17) and our forecast of ($0.16). The result excludes $9.8mm in net credits. Operating profit in OSB was -$16mm versus our forecast -$13mm. Siding Division profit was $12mm and Engineered Wood, -3mm, both in line with our estimates. We expect fundamentals in the near term to deteriorate due to seasonal slowdown and a weak economy. Our forecast for Q4/11 is ($0.20) compared to the First Call Mean of ($0.19)."
LPX closed at $6.61 on Friday.
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