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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

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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