DA Davidson Downgrades Weyerhaeuser (WY) to Neutral; Wood Outlook Better, Pulp Outlook Worse
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Price: $31.46 --0%
Rating Summary:
10 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 1
Rating Summary:
10 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 1
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DA Davidson downgraded Weyerhaeuser (NYSE: WY) from Buy to Neutral with a price target of $23.00 (from $22.00).
Analyst, Steven Chercover, said, "The commodities that drive Weyerhaeuser are moving in different directions, and while the net impact on earnings is expected to be slightly positive, we are moving to the sidelines from a valuation perspective."
"We would become increasingly bullish if our belief that housing is improving is confirmed and/or when the company provides evidence that the “New Weyerhaeuser” can support a significantly higher dividend than is currently paid (and we’re not convinced of that at present)." (DA raises FY13 EPS estimate from $0.71 to $0.80)
For an analyst ratings summary and ratings history on Weyerhaeuser click here. For more ratings news on Weyerhaeuser click here.
Shares of Weyerhaeuser closed at $22.33 yesterday.
Analyst, Steven Chercover, said, "The commodities that drive Weyerhaeuser are moving in different directions, and while the net impact on earnings is expected to be slightly positive, we are moving to the sidelines from a valuation perspective."
"We would become increasingly bullish if our belief that housing is improving is confirmed and/or when the company provides evidence that the “New Weyerhaeuser” can support a significantly higher dividend than is currently paid (and we’re not convinced of that at present)." (DA raises FY13 EPS estimate from $0.71 to $0.80)
For an analyst ratings summary and ratings history on Weyerhaeuser click here. For more ratings news on Weyerhaeuser click here.
Shares of Weyerhaeuser closed at $22.33 yesterday.
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