UPDATE: Seaport Global Securities Starts Norbord (OSB) at Buy

October 23, 2018 8:01 AM EDT
Get Alerts OSB Hot Sheet
Price: $43.13 --0%

Rating Summary:
    3 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 58
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(Updated - October 23, 2018 9:35 AM EDT)

(updated to add analyst comments)

Seaport Global Securities analyst Mark Weintraub initiates coverage on Norbord (NYSE: OSB) with a Buy rating and a price target of $32.00.

The analyst commented, "Norbord is highly leveraged to oriented strand board (OSB). The company runs a tight ship, gets the job done with a minimum of flash or fanfare, and has demonstrated a willingness to return capital to shareholders. The bears are concerned about weak OSB pricing as new capacity in OSB continues to ramp while housing throws off mixed signals and the seasonally slower winter months approach. We think OSB pricing may indeed be in for a rough quarter or two but see upside as 2019 progresses. Also, following a recent plunge in the stock, valuation is suddenly alluring on longer-term measures such as replacement value for which our range comes out at $23-$41/share."

For an analyst ratings summary and ratings history on Norbord click here. For more ratings news on Norbord click here.

Shares of Norbord closed at $25.89 yesterday.

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