UPDATE: Citigroup Reiterates Buy Rating, Raises PT on Weyerhaeuser Company
In a report published Wednesday, Citigroup reiterated its Buy rating on Weyerhaeuser Company (NYSE: WY), and raised its price target from $32.00 to $36.00.
Citigroup noted, “With our non-consensus top pick up 49% in 2012 and an additional 7% YTD, we are reassessing WY's prospects for 2013. Following a review of our model we are raising our already above-consensus 2013 EPS estimate 20%. We expect WY's upward earnings revision cycle to continue through 2013 and WY remains our most preferred name. We are raising our 12-month target price to $36 (+24% ETR), although potential upside of $42 is possible in a stronger environment. We view WY as providing the most compelling upside/downside opportunity in our sector, with a Bear Case target price of $24 (-17% downside vs. +44% upside).”
Weyerhaeuser Company closed on Tuesday at $29.68.
Latest Ratings for WY
|Nov 2014||DA Davidson||Maintains||Buy|
|Sep 2014||JP Morgan||Initiates Coverage on||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.