As reported earlier, DA Davidson analyst Steven Chercover upgraded PotlatchDeltic (PCH) to Buy from Neutral but lowered his price target to $50 from $52. The analyst notes that the stock price has recovered the lost ground that followed earnings from Weyerhaeuser (WY) and has more room to run as the company's valuation suggests a "sizable discount" to his estimated net asset value of $53 per share. Chercover contends that the company's "Timber REIT leading lumber leverage has made it a poor performer" following the selloff of the commodity, but that its "plentiful" log supply and strong margins set up an "attractive upside potential" amid subsiding macro concerns.