LP Building Solutions price target lowered to $110 from $117 at Loop Capital

Loop Capital lowered the firm’s price target on LP Building Solutions (LPX) to $110 from $117 and keeps a Hold rating on the shares. The company reported a healthy Q4 beat driven by better-than-expected OSB – oriented strand board – results as both segment volumes and pricing moved higher during the quarter, but introduced a lighter than anticipated siding guidance, the analyst tells investors in a research note. LPX’s siding demand fundamentals remain intact however despite a lighter than expected segment guidance, and the firm believes the company has a long runway of share gains with both one-step distribution and builder customers by replicating its successful Lennar partnership with other large builders across the count.