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 $28.00 to $32.00.
Deutsche Bank noted, “US housing is showing clear signs of a rebound. The gains have begun showing in WY's Wood Products & Real Estate segments. In contrast, we've yet to see any evidence of uptick in southern sawlog prices. Away from housing, the dynamics in WY's pulp business remains soft. WY has great assets. The question is whether it can deliver great results. Barring more aggressive assumptions in Wood Products & R/E or further corporate restructuring, it is hard for us to argue value beyond low $30s. We are maintaining our Hold rating, raising PT from $28 to $32.”
Weyerhaeuser Company closed on Friday at $30.95.
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