Boise Cascade price target raised to $124 from $120 at BofA

BofA raised the firm’s price target on Boise Cascade to $124 from $120 and keeps an Underperform rating on the shares. Within the wood and timber group, lumber should have better risk/reward than panels since lumber prices are at a trough, the analyst tells investors in a research note. The firm says supply cuts, cash costs and duties should all support lumber from here. The interest rate cuts will help the stocks, “but keep in mind that current valuations already discount a drop in rates,” contends BofA.