Shares of Boise Cascade Co. (BCC) tumbled 10.9% toward and eight-month low, and of Louisiana-Pacific Corp. (LPX) slid 4.9% toward a 15-month low, after BofA Securities downgraded the wood products makers to neutral from buy, citing a "more bearish" view on new home demand and has wood prices have dropped sharply. Analysts George Staphos and John Babcock also cut their price targets on Boise's stock to $71 from $95 and on Louisiana-Pacific to $67 from $90. The downgrades come after BofA Securities recently cut its ...
Register for unlimited access
We work hard to bring you the latest news in the world of the international wood industry. The article you are currently reading is available only to registered users.By registering you gain access to:
- Thousands of quality articles
- In-depth analyses of market trends
- Exclusive market price insights
- And much more!
