Louisiana-Pacific downgraded on valuation at TD Securities

TD Securities downgraded Louisiana-Pacific to Hold from Buy with a price target of $75, up from $71. The analyst modestly raised earnings estimates through 2025 for Louisiana-Pacific to reflect positive revisions to the firm’s North American oriented strand board price forecast. Despite these revisions, TD downgraded the shares following the recent share price strength and valuation expansion. Louisiana-Pacific’s valuation has expanded to fair levels, the analyst tells investors in a research note.