TD Newcrest Upgrades Louisiana-Pacific Corp (LPX) to Hold on Valuation; Weak Q1/11 Results As Expected
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Price: $73.18 -0.77%
Rating Summary:
11 Buy, 7 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 7 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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TD Newcrest upgraded Louisiana-Pacific Corp (NYSE: LPX) from Reduce to Hold. PT lowered from $10 to $9.
TD analyst says, "LP’s Q1/11 results, although in line with expectations, reflect weak OSB demand, a poor pricing environment and input cost pressure. The North American OSB market remains weak – demand tied to new U.S. housing construction is lackluster, inventory channels are full and prices are drifting sideways. We are lowering our earnings estimates to reflect higher input costs and weaker OSB demand in the mid-term...LP’s share price has declined 22% since we downgraded the stock in February 2011; we now consider its shares appropriately valued."
For more ratings news on Louisiana-Pacific Corp click here and for the rating history of Louisiana-Pacific Corp click here.
Shares of Louisiana-Pacific Corp closed at $8.71 yesterday.
TD analyst says, "LP’s Q1/11 results, although in line with expectations, reflect weak OSB demand, a poor pricing environment and input cost pressure. The North American OSB market remains weak – demand tied to new U.S. housing construction is lackluster, inventory channels are full and prices are drifting sideways. We are lowering our earnings estimates to reflect higher input costs and weaker OSB demand in the mid-term...LP’s share price has declined 22% since we downgraded the stock in February 2011; we now consider its shares appropriately valued."
For more ratings news on Louisiana-Pacific Corp click here and for the rating history of Louisiana-Pacific Corp click here.
Shares of Louisiana-Pacific Corp closed at $8.71 yesterday.
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