DA Davidson Upgrades Universal Forest Products (UFPI) to Neutral; Unraveling of Seasonal Trade Makes More Tolerable

DA Davidson upgraded Universal Forest Products (NASDAQ: UFPI) from Underperform to Neutral with a price target of $34.00.

Analyst, Steven Chercover, said, "UFPI shares have been weak, falling 19.1% since our February 17th update likely due to the unraveling of the seasonal trade in housing related stocks, while the outlook for housing and the company’s end markets remain largely unchanged...UFPI remains a solid company with good operations, a strong balance sheet and a profitable business model. We could look to get more constructive if the shares fall below book value...Our 2012 estimate of $1.01 and 2013 estimate of $1.51 also remain intact."

For an analyst ratings summary and ratings history on Universal Forest Products click here. For more ratings news on Universal Forest Products click here.

Shares of Universal Forest Products closed at $30.40 yesterday.

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