DA Davidson analyst Kurt Yinger upgraded Louisiana-Pacific to Buy from Neutral with an unchanged price target of $76. The analyst believes the recent weakness in the shares following a reset in near-term expectations for the Siding business “creates a compelling entry-point.” The firm continues to believe Louisiana-Pacific can gain share with its SmartSide products over the medium-term. A two-plus year expected timeline until the next siding conversion project, moderating inflation, and the lapping of growth related headwinds leaves the company “unencumbered to drive a recovery in margins,” the analyst tells investors in a research note.
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