Market Overview

UPDATE: Bank of America Upgrades Louisiana-Pacific to Buy on Housing, OSB Fundamentals

Related LPX
Benzinga's Top Downgrades
RBC Capital Downgrades Louisiana-Pacific To Sector Perform
Home Improvement Stocks Tumble (Fox Business)

Bank of America raised its rating on Louisiana-Pacific (NYSE: LPX) from Underperform to Buy and increased its price target from $9 to $16.

Bank of America noted, "While admittedly late, we upgrade LPX to Buy from Underperform to move alongside other wood and housing-related Buys including Weyerhaeuser and Rayonier. Given our valuation there is sufficient upside to our new PO of $16 to upgrade. Our ests move higher given better Oriented Strand Board (OSB) pricing. OSB is used in structural sheathing in new homes and room additions, as well as other building components. LPX is the leading producer of OSB in North America."

Louisiana-Pacific closed at $13.28 on Wednesday.

Posted-In: Bank of AmericaAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Most Popular

Related Articles (LPX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free