TD Securities Downgrades Boise Inc. (BZ) to Hold

October 16, 2012 7:26 AM EDT Send to a Friend
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Price: $12.54 --0%

Rating Summary:
    1 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 2 | New: 1
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TD Securities downgraded Boise Inc. (NYSE: BZ) from Buy to Hold with a price target of $10.00 (from $9.00).

"Boise shares have outperformed its paper and packaging peer group over the last year, doubling in value from the Q4/11 trough. Since the more recent low in June, the shares have rallied 41% compared with an average of 29% for its peers. We continue to support Boise’s strategy to shift the business towards packaging products – our downgrade reflects our view that valuation appropriately reflects the commodity price momentum in the paper and packaging sectors," said analyst Graham Meagher.

For an analyst ratings summary and ratings history on Boise Inc. click here. For more ratings news on Boise Inc. click here.

Shares of Boise Inc. closed at $9.02 yesterday.

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