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UPDATE: D.A. Davidson Upgrades Boise Cascade on Raised FY 2013 Estimate

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Boise Cascade Company Announces Share Repurchase Program and 2015 Capital Spending Plan
DA Davidson Tweaks Estimates For 6 Stocks

In a report published Monday, D.A. Davidson analyst Steven Chercover upgraded the rating on Boise Cascade Company (NYSE: BCC) from Neutral to Buy, and reiterated the $30.00 price target.

In the report, D.A. Davidson noted, “We have raised our FY 2013 estimate from $0.77 to $1.15, which reflects the beat and higher expectations for the 2H-13. We expect some level of inventory recovery within BMD in Q3 thanks to firming Plywood prices, accretion from the Wood Resources deal and a diminished share count. The second two factors propel our FY 2014 EPS from $1.75 to $2.10. Risks emanate primarily from commodity fluctuations, a weaker than expected U.S. housing recovery, and a delay in the closing of the Wood Resources LLC acquisition.”

Boise Cascade Company closed on Friday at $23.44.

Latest Ratings for BCC

DateFirmActionFromTo
Feb 2015Vertical ResearchUpgradesBuy
Dec 2014DA DavidsonDowngradesBuyNeutral
Nov 2014BMO CapitalDowngradesOutperformMarket Perform

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View the Latest Analyst Ratings

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

 

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