Seaport Research lowered the firm’s price target on Weyerhaeuser to $38 from $39 and keeps a Buy rating on the shares after the company provided an update on its Q3 outlook that included “several drivers coming in weaker than previously anticipated.” Following the pre-announcement, the firm is reducing its Q3 adjusted EBITDA estimate by about 10% to about $500M and its Q3 EPS forecast to 32c.
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