TD Securities Upgrades Louisiana-Pacific Corp (LPX) From Sell to Hold; Higher OSB Prices

TD Securities upgraded Louisiana-Pacific Corp (NYSE: LPX) from Reduce to Hold with a price target of $9.50 (from $7.50).

Analyst, Graham Meagher, said, "We took a negative view towards LP equity in December 2011 based on concerns that the OSB price rally was unsustainable and our view of expensive valuation. With our more positive view on OSB pricing in the near term, we now consider the equity fairly valued and believe that it appropriately reflects the risk/reward tradeoff between the potential restart of idled capacity in the mid-term and positive free cash flow in the near term. In the near term, we expect positive consensus earnings revision momentum for LP, but continue to see better relative value elsewhere in the wood products sector."

For an analyst ratings summary and ratings history on Louisiana-Pacific Corp click here. For more ratings news on Louisiana-Pacific Corp click here.

Shares of Louisiana-Pacific Corp closed at $8.84 yesterday.

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