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UPDATE: Citigroup Upgrades Weyerhaeuser to Buy on Favorable Outlook

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In a recent note, Citigroup raised its rating on Weyerhaeuser (NYSE: WY) from Neutral to Buy and increased its price target on shares from $22.50 to $28.

Citigroup commented, "We are upgrading WY to Buy and making it our most preferred name. Our upgrade is based on our view that: 1) 2H lumber prices will be stronger-than-expected as dealers have not built adequate inventories to meet housing construction demand; 2) WY is most likely to see upwards earnings revisions in a sector where estimates are generally drifting lower; 3) WY is positioned for long-term dividend growth given a multi-year US housing recovery."

Weyerhaeuser closed at $22.29 on Friday.

Latest Ratings for WY

DateFirmActionFromTo
Sep 2014JP MorganInitiates Coverage onNeutral
Sep 2014BMO CapitalInitiates Coverage onOutperform
Sep 2014BMO CapitalInitiates Coverage onOutperform

View More Analyst Ratings for WY
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Upgrades Price Target Pre-Market Outlook Analyst Ratings

 

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