Weyerhaeuser price target lowered to $36 from $40 at DA Davidson

DA Davidson lowered the firm’s price target on Weyerhaeuser to $36 from $40 but keeps a Buy rating on the shares. While the company’s Q3 results were in line, the firm is reducing its Q4 estimates, primarily reflecting lower lumber and OSB price assumptions given recent weakness, the analyst tells investors in a research note. 2023 will be a weak year relative to record 2020-2022 performances, but the company’s performance remains “resilient overall”, the firm added.