Market Overview

UPDATE: D.A. Davidson Upgrades Potlatch Corporation After Shares Fall Below Target

Related PCH
Top 4 Small-Cap Stocks In The Lumber, Wood Production Industry With The Highest ROI
Top 4 Small-Cap Stocks In The Lumber, Wood Production Industry With The Highest EPS

In a report published Thursday, D.A. Davidson analyst Steven Chercover upgraded the rating on Potlatch Corporation (NASDAQ: PCH) from Underperform to Neutral, and reiterated the $44.00 price target.

In the report, D.A. Davidson noted, “Over the past month, shares of Potlatch (and all the Timber REITs) have been hammered due to fears that the Federal Reserve is poised to taper Quantitative Easing, coupled with a sharp decline in lumber and panel prices. With the Potlatch shares now below our $44 price target, we upgrading our recommendation from Underperform to NEUTRAL. Despite the recent downturn in wood markets, we are leaving our estimates unchanged, as our numbers discount declining lumber and panel prices for the remainder of the year. That said, just as the upside exceeded expectations (and was overdone), the prices are falling faster and further than anticipated, and if sustained, estimates could be at risk. At present our FY 2013 and FY 2014 EPS estimates remain static at $1.51 and $1.73, respectively.”

Potlatch Corporation closed on Wednesday at $40.50.

Latest Ratings for PCH

Mar 2015DA DavidsonUpgradesNeutralBuy
Oct 2014DA DavidsonMaintainsNeutral
Oct 2014Vertical ResearchDowngradesBuyHold

View More Analyst Ratings for PCH
View the Latest Analyst Ratings

Posted-In: D.A. Davidson Steven ChercoverAnalyst Color Upgrades Analyst Ratings


Related Articles (PCH)

View Comments and Join the Discussion!

Get Benzinga's Newsletters