PotlatchDeltic upgraded to Outperform from Market Perform at BMO Capital

BMO Capital analyst Ketan Mamtora upgraded PotlatchDeltic (PCH) to Outperform from Market Perform with an unchanged price target of $51. The analyst believes higher export duties on lumber coming from CN will raise the cost floor and push prices higher. With 100% of its lumber capacity in the U.S. and Idaho sawlog prices linked to lumber, PotlatchDeltic’s EBITDA “should improve nicely” and its valuation is attractive at current levels, the analyst tells investors in a research note.