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Fly News Breaks for November 18, 2019
WY
Nov 18, 2019 | 08:32 EDT
Argus analyst Jacob Kilstein raised his price target on Weyerhaeuser to $32 and kept his Buy rating, saying that while the company's Q3 results were softer than expected, the stock should become a "major beneficiary" of the strengthening U.S. housing starts trend heading into 2020. The analyst further cites his forecast of stronger lumber prices next year amid lower supply from Canada and lean inventories, even though he is cutting his FY19 EPS view by 17c to 41c on expectations of lower near-term demand and realized prices for wood products.
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