UPDATE: UBS Investment Research Downgrades Louisiana-Pacific
UBS Investment Research lowers its rating on Louisiana-Pacific (NYSE: LPX) to Sell from Neutral and lowers its price target by $1 to 7.50 as it lowers estimates on more conservative outlook following wide 4Q loss.
UBS Investment Research notes, "We fear that given current weak industry utilization (~60%) material price recovery is unlikely. We expect modest operating improvement with less inflation & continued cost cutting savings. Our new 2012 est is a $0.65 loss. This assumes EBIT improves about $20mm y/y (EBITDA neutral). Our 1Q estimate is $0.20 loss."
LPX closed at $8.26 a share on Tuesday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.