As previously reported, TD Securities analyst Sean Steuart downgraded Louisiana-Pacific to Hold from Buy with a price target of $72, up from $69. While telling investors that he is "comfortable" raising his price target, partly reflecting the rollout of 2024 estimates, Steuart added that his downgrade reflects share price outperformance and notes that he is lowering his 2022 and 2023 earnings outlook to reflect more conservative North American oriented strand board, or OSB, price forecasts.
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Published first on TheFly
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