In a report released today, Ketan Mamtora from BMO Capital upgraded Boise Cascade to a Buy, with a price target of $100.00.
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Ketan Mamtora has given his Buy rating due to a combination of factors that suggest Boise Cascade’s stock is an attractive investment opportunity. Despite the potential volatility in housing demand, the current stock price is seen as a favorable entry point for long-term investors. The company’s robust balance sheet, trading at a low multiple of its mid-cycle EBITDA estimate, further supports this positive outlook.
Additionally, the stabilization in Engineered Wood Products (EWP) prices and a continued focus on the general line business are expected to improve margins over time. The management’s rational approach and the company’s strong distribution business add to the confidence in Boise Cascade’s potential for future growth. These elements combined make the stock an appealing choice for investors willing to navigate short-term uncertainties for long-term gains.
In another report released yesterday, D.A. Davidson also maintained a Buy rating on the stock with a $95.00 price target.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BCC in relation to earlier this year.