PotlatchDeltic upgraded to Buy at BofA with lumber prices at trough

As previously reported, BofA analyst George Staphos upgraded PotlatchDeltic to Buy from Neutral with a $51 price target. Within wood and timber, lumber should have better risk/reward than panels given the firm’s view that lumber prices are at a trough, the analyst tells investors. Fundamental catalysts may be lacking in the near-term, but PotlatchDeltic offers 20%-plus total upside potential based on the firm’s price target, the analyst tells investors.