UPDATE: BMO Capital Markets Downgrades Weyerhaeuser from Market Perform to Underperform

BMO Capital Markets downgraded Weyerhaeuser

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.