Weyerhaeuser Company (WY) Upgraded To Neutral
By Benzinga Staff
February 08, 2010 3:45 PM
February 08, 2010 3:45 PM
Tags: Credit Suisse
Credit Suisse (ADR) (NYSE: CS) has upgraded Weyerhaeuser Company (NYSE: WY) from an Underperform to Neutral rating. The company has reported weaker-than-expected results for the fourth quarter, with a loss of $0.52 per share.
Credit Suisse has raised the 2010 and 2011 estimates for the company. It now expects the company to make a loss of $0.40 per share in 2010 and a profit of $1.40 per share in 2011. The estimates have been revised after reviewing the company’s fourth-quarter results. Credit Suisse now expects the company’s wood operations to perform better than their prior expectations.
Credit Suisse has raised the price target for Weyerhaeuser Company from $40 to $42.
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