DA Davidson raised the firm’s price target on Louisiana-Pacific (LPX) to $110 from $98 and keeps a Buy rating on the shares. The firm hosted investor meetings that focused around Siding competitive dynamics, the Lennar (LEN) partnership and opportunities to replicate that success with other large builders, as well as capital allocation, the analyst tells investors in a research note. Coming out of the meetings, DA Davidson “remains confident” in the above-market growth trajectory of SmartSide and that the recent product innovations leave Louisiana-Pacific better positioned to partcipate in previously under-served areas, the firm added.
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