Louisiana-Pacific initiated with a Hold at Loop Capital

Loop Capital analyst Jeffrey Stevenson initiated coverage of Louisiana-Pacific with a Hold rating and $82 price target. The analyst says a “choppy” residential renovation demand environment and uncertainty surrounding mid-term oriented strand board pricing offset a positive long-term material conversion story for Louisiana-Pacific. The firm expects siding demand to remain challenged now that interest rates are expected to remain higher longer as homeowners are reluctant to move in a high-rate environment.