Boise Cascade price target raised to $115 from $90 at BMO Capital

BMO Capital analyst Ketan Mamtora raised the firm’s price target on Boise Cascade to $115 from $90 and keeps a Market Perform rating on the shares after its Q2 earnings beat. The company saw another quarter of solid execution, while the recent signs of uptick in housing activity is encouraging, the analyst tells investors in a research note. BMO adds that Boise Cascade also offers a fortress balance sheet, and absent M&A, declaration of a special dividend in Q4 “appears likely”.