Louisiana-Pacific upgraded to Buy at Truist on exposure to single-family homes

As previously reported, Truist upgraded Louisiana-Pacific to Buy from Hold with a price target of $82, up from $49 as part of a broader research note. The U.S. housing market – particularly single-family starts – is poised for a recovery, and investors will be best positioned in this stock given its high beta and greater exposure to single-family home construction, the analyst tells investors in a research note. In Siding, demand remains steady after a weaker Q1, while late April and early May showed that Siding order files first began to improve, the firm adds, noting that this improvement has largely persisted throughout Q2. Consistent with recent housing data, OSB prices have increased given strengthening order files and as cautious buyers increased their purchases, Truist further states.