Louisiana-Pacific price target lowered to $47 from $49 at Truist

Truist analyst Michael Roxland lowered the firm’s price target on Louisiana-Pacific to $47 from $49 and keeps a Hold rating on the shares. The company posted a "tough" set of Q4 result amid slowing Siding demand due to destocking, though its management also noted that the inventory reduction appears largely worked through, the analyst tells investors in a research note. The firm added however that on a positive note, Louisiana-Pacific appears to be gaining market share as SmartSide is more cost effective on a total installed cost basis relative to fiber cement, high-end vinyl, and other products and as customers increasingly choose ESG-focused products.