Boise Cascade upgraded to Buy at Truist on exposure to single-family homes

As previously reported, Truist analyst Michael Roxland upgraded Boise Cascade to Buy from Hold with a price target of $100, up from $66, as part of a broader research note. The U.S. housing market – particularly single-family starts – is poised for a recovery, and investors will be best positioned in this stock given its high beta and greater exposure to single-family home construction, the analyst tells investors in a research note. Engineered wood products demand has increased with more notable improvement in the West, which has been negatively impacted by slower market conditions and inclement weather, the firm adds, noting that Boise Cascade also has increased its operating posture to capture this improved activity.