Companies in the timber industry / Daily News / Global Trends / Forestry / Lumber / Sawmilling / Statistics / Wood Products / Global / North America
July 1, 2022
North American wood products makers downgraded on lower housing demand, falling lumber prices
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 ...
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North American lumber producers are cutting back production, a signal that higher interest rates are taking rootCompanies in the timber industry / Daily News / Global Trends / Market Analysis / Wood Industry Prices / Forestry / Lumber / Price analysis and info / Sawmilling / Statistics / Wood Products / Global / North America