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Fly News Breaks for November 13, 2015
WY
Nov 13, 2015 | 07:46 EDT
CLSA upgraded Weyerhaeuser (WY) to Outperform and raised its price target to $35 from $32 on shares. Analyst Mark Connelly said new CEO Doyle Simons has done a good job to clean up operations but said the addition of five new directors to this "sleepy" board and inclusion of one of the best real estate groups, indicate Simons has a mandate to maximize value. Connelly believes the Plum Creek (PCL) will be transnational for Weyerhaeuser by creating instant credibility in real estate management, raising the level of financial sophistication, and most importantly, waking up the Board to rethink shareholder value creation.
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