PotlatchDeltic price target lowered to $55 from $57 at DA Davidson

DA Davidson analyst Kurt Yinger lowered the firm’s price target on PotlatchDeltic to $55 from $57 but keeps a Buy rating on the shares. The price target cut reflects a weaker than expected lumber pricing environment, though the correction in lumber prices has been more severe than anticipated and the market has likely "overcorrected", the analyst tells investors in a research note. DA Davidson further states that the price target cut is also due to the company’s special dividend payout.