UPDATE: BMO Capital Downgrades Weyerhaeuser (WY) to Market Perform

BMO Capital analyst Mark Wilde downgraded Weyerhaeuser (NYSE: WY) from Outperform to Market Perform with a price target of $42.00.

The analyst comments "Solid quarter. Downgrading to Market Perform on valuation. EBITDA of $1,497mm, BMO Research/consensus at $1,465mm/$1,380mm. Timberlands and Real Estate drove the upside. Downgrading to Market Perform. With WY trading at a ~15% premium to our NAV, we are stepping to the sidelines. Shares could trade higher with strong lumber/ panel markets and rising ESG interest. We see risks as “balanced” and further upside limited. Key headwind: rising mortgage rates."

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

Shares of Weyerhaeuser closed at $41.22 yesterday.

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