UPDATE: Deutsche Bank Raises PT on Weyerhaeuser Following Key Announcements
In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Weyerhaeuser (NYSE: WY), and raised the price target from $32.00 to $33.00.
In the report, Deutsche Bank noted, “Last Monday, WY made several key announcements: (1) Acqn of 645K/acres of Longview timberlands for $2.65B, (2) Appointment of Doyle Simons as President & CEO, (3) Examination of strategic options for its home building ops, and (4) A 10% increase in dividends. Based on updated SOTP. At current price levels, we think the stock is fairly valued. Maintain Hold.”
Weyerhaeuser closed on Friday at $27.42.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.