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Fly News Breaks for June 14, 2019
LPX, OSB
Jun 14, 2019 | 04:59 EDT
BMO Capital analyst Ketan Mamtora upgraded Norbord (OSB) to Outperform from Market Perform and raised his price target for the shares to $28 from $26. Louisiana-Pacific (LPX) and Norbord's announcements to indefinitely idle oriented strand board mills remove 5% of industry capacity, Mamtora tells investors in a research note. The analyst believes this should alleviate supply overhang and aid OSB prices. Norbord's valuation now "appears very attractive," its balance sheet is "healthy," and the company has made "solid progress" in improving European performance, adds the analyst. Mamtora says the stock's "risks are skewed clearly to the upside."
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