UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Louisiana-Pacific Corporation on OSB Price Surge
In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Louisiana-Pacific Corporation (NYSE: LPX), and raised its price target from $18.00 to $20.00.
Deutsche Bank noted, “We've been awed by the surge in OSB prices thru Q4 & much of Q1. The bullish thesis around a housing recovery & high OSB prices looks increasingly probable. The risks remain clear. Mill restarts (or ramp-up curve) could still disrupt demand/supply balance, pressuring OSB prices. Considering the current stock price level & extremely high volatility of OSB prices, we prefer to remain on the sidelines. Maintain Hold. Raising PT from $18 to $20/share on higher than expected EBITDA in 2013 & 2014.”
Louisiana-Pacific Corporation closed on Tuesday at $21.45.
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