PotlatchDeltic price target lowered to $42 from $49 at Truist

Truist analyst Michael Roxland lowered the firm’s price target on PotlatchDeltic to $42 from $49 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results in Paper and Packaging. The quarter was a “mixed paper bag” for paper/forest products, with better containerboard demand and pricing, relatively stable boxboard demand and pricing, but weaker wood products demand and pricing, the analyst tells investors in a research note. The firm adds that its reduced price target on the name reflects concerns over global economic growth, persistently depressed global manufacturing, and lower market multiples.