TD Securities analyst Sean Steuart downgraded Louisiana-Pacific to Hold from Buy with a price target of $85, up from $75. The analyst increased 2023 and 2024 earnings estimates for the company to reflect positive revisions to the firm’s North American oriented strand board price forecast. In the near term, TD expects urging OSB prices and stabilizing siding margins will support “much-improved” results. However, the firm downgraded Louisiana-Pacific on valuation following the stock’s recent strength. The stock’s valuation has expanded to fair levels, writes TD.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on LPX:
- Louisiana-Pacific price target raised to $76 from $65 at DA Davidson
- Louisiana-Pacific price target raised to $60 from $58 at BofA
- Uber downgraded, Pinterest upgraded: Wall Street’s top analyst calls
- Louisiana-Pacific upgraded to Buy at Truist on exposure to single-family homes
- Louisiana-Pacific upgraded to Buy from Hold at Truist