UPDATE: DA Davidson Downgrades Boise Cascade Company (BCC) to Neutral

April 9, 2021 8:10 AM EDT
Get Alerts BCC Hot Sheet
Price: $72.07 -4.54%

Rating Summary:
    2 Buy, 8 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 26 | Down: 19 | New: 40
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(Updated - April 9, 2021 8:18 AM EDT)

DA Davidson analyst Kurt Yinger downgraded Boise Cascade Company (NYSE: BCC) from Buy to Neutral with a price target of $62 (from $57).

The analyst commented, "We are downgrading shares of Boise Cascade from Buy to NEUTRAL after a strong run in the name since our February 24th upgrade (+41% vs S&P 500 +6%). Upside potential for estimates remains with commodity prices continuing to push higher and elevated supplemental dividends are expected; however, we believe it's unlikely we see additional multiple expansion on top of what we view as unsustainable price levels / near-term earnings power, and view the company as particularly exposed to a potential correction in prices via its distribution business. With this note we have updated our forecasts and are raising our PT to $62 (from $57)."

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

Shares of Boise Cascade Company closed at $64.53 yesterday.

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