UPDATE: BMO Capital Markets Upgrades Louisiana-Pacific to Market Perform, Raises PT
In a report published Wednesday, BMO Capital Markets upgraded its rating on Louisiana-Pacific Corporation (NYSE: LPX) from Underperform to Market Perform, and raised its price target from $8.00 to $11.25.
BMO Capital noted, “The outlook for panel producers has improved with this unexpected discipline in operations. In Q2, LPX's operating rate was 80% and was 65% including idled capacity. Seasonality will continue to be a factor, but overall we expect higher average panel prices than we have witnessed in recent years.”
Louisiana-Pacific Corporation closed on Tuesday at $10.32.
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