Raymond James upgraded Weyerhaeuser (WY) to Outperform from Market Perform with a $32 price target The firm upgraded the two timber real estate investment trusts citing improving lumber fundamentals and “deep valuation discounts.” The analyst sees a steadily improving backdrop forming for lumber price fundamentals. The market “might be throwing the baby out with the bath water,” as the lumber markets are beginning to “act decidedly more positive” heading into 2025, the analyst tells investors in a research note. Raymond James highlights the 12% quarter-over-quarter improvement in cash market pricing for the random lengths lumber composite in Q4 and believes the seasonal bottom for lumber pricing has already been made.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WY:
- Weyerhaeuser price target lowered to $36 from $38 at RBC Capital
- Weyerhaeuser Highlights Strategic Goals and Sustainability
- Trex teams with Weyerhaeuser to expand distribution across U.S. Southwest
- Weyerhaeuser upgraded to Outperform from Market Perform at BMO Capital
- Weyerhaeuser to invest $500M in new TimberStrand facility in Arkansas