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

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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
Nov 2014BMO CapitalDowngradesOutperformMarket Perform
Sep 2014BMO CapitalInitiates Coverage onOutperform
Sep 2014BMO CapitalInitiates Coverage onOutperform

View More Analyst Ratings for BCC
View the Latest Analyst Ratings

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

 

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