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Fly News Breaks for November 7, 2018
BCC
Nov 7, 2018 | 08:08 EDT
DA Davidson analyst Steven Chercover lowered his price target on Boise Cascade to $35 and kept his Neutral rating, while also reducing his FY18 EPS view to $2.20 from $3.22 and FY19 to $2.04 from $2.91 after its Q3 earnings miss. The analyst notes that although commodity prices may rebound, he is still reluctant to get more constructive on the stock in spite of its 40% decline from this year's high. Chercover adds that Boise Cascade's sale of Oregon facilities and curtailment of Roxboro LVL production speak to its strategic focus of contained capacity.
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