Investors Shrug at RBC's Upgrade of Weyerhaeuser, Shares Close Only Very Modestly Higher

In a report published on Monday, RBC Capital analyst Paul Quinn raised Weyerhaeuser WY to Outperform versus the previous Sector Perform rating. The analyst price target was also raised from $31 to $34 as the analyst believes the lumber correction has now concluded. Quinn cited potential exposure to recovery in US housing market; OSB prices are 30 percent above the trend and Quinn sees lumber expected to recover in the fall. Shares of Weyerhaeuser closed up 0.2 percent to $29.10.