Louisiana-Pacific downgraded to Market Perform from Outperform at BMO Capital

BMO Capital downgraded Louisiana-Pacific to Market Perform from Outperform with an unchanged price target of $99. The company reported another “beat and raise” in Siding, which is encouraging against a softer housing demand backdrop, the analyst tells investors in a research note. The firm says that while Louisiana-Pacific is gaining share in Siding and there is further runway, the stock is trading within 5% of its price target. As such, BMO thinks Louisiana-Pacific’s risk/reward is balanced at current levels.