UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on Weyerhaeuser Company

In a report published Monday, BMO Capital Markets reiterated its Market Perform rating on Weyerhaeuser Company

, and raised its price target from $26.50 to $28.50. BMO Capital noted, “Q3/12 EPS from continuing operations were $0.22 compared to the First Call Mean and our estimate of $0.18. The outperformance from our estimate was mainly owing to a lower tax rate. Operating profit was $202 million, in line with our estimate. In comparison to the prior quarter, Pulp Division profits jumped $42 million to $78 million owing to much less maintenance, and Wood Products improved $29 million to $59 million, owing to higher panel and lumber prices.” Weyerhaeuser Company closed on Friday at $27.37.