UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Weyerhaeuser Company
In a report published Monday, Deutsche Bank reiterated its Hold rating on Weyerhaeuser Company (NYSE: WY), and raised its price target from $23.00 to $25.00.
Deutsche Bank noted, “Raising price target to $25; Maintain Hold rating. WY is a multi-layer housing play. After years of anemic housing demand, activity is picking-up. The gains are beginning to flow into WY's businesses. Lumber & Panel prices have rallied and vol's are improving. At the same time, WRECO is showing clear signs of recovery. Timberland remains soft and will likely require a further rebound in housing & additional time to recover. Away from housing, dynamics in WY's pulp business remain soft. At current levels, we think WY is fairly valued and maintain our Hold rating. Raising price target from $23 to $25/share.”
Weyerhaeuser Company closed on Friday at $27.37.
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Tags: Deutsche Bank