UPDATE: BMO Capital Markets Downgrades Weyerhaeuser from Market Perform to Underperform
BMO Capital Markets downgraded Weyerhaeuser (NYSE: WY) from a Market Perform to an Underperform rating and reiterated a price target of $23.
BMO Capital Markets commented, “We are lowering our Weyerhaeuser rating to Underperform from Market Perform owing to stock price appreciation. We are entering into a seasonally weak period for Weyerhaeuser's major grades, wood products and pulp; furthermore, the macroeconomic news for regions such as Europe, China and, most recently, North America, has been disappointing. Our forecasts are unchanged.”
Weyerhaeuser closed at $23.65 on Monday.
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