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CTT

CatchMark Timber

$8.12

0.09 (1.12%)

, WY

Weyerhaeuser

$24.20

-0.09 (-0.37%)

07:07
01/14/19
01/14
07:07
01/14/19
07:07

Citi upgrades CatchMark Timber to Buy following 11% selloff

Citi analyst Anthony Pettinari upgraded CatchMark Timber (CTT) to Buy from Neutral while lowering his price target for the shares to $10 from $10.50. Timber real estate investment trusts sharply underperformed the REIT index and S&P 500 in 2018 on a slowdown in housing starts, falling lumber prices, timberland valuation concerns, and China trade fears, Pettinari tells investors in a research note. The analyst expects softness in lumber and logs to continue in 2019. However, with estimates reset, the stocks are trading at levels that have historically provided an entry point for outperformance, Pettinari says. He finds CatchMark Timber attractive following the 11% drop in shares since his November 2018 initiation. Weyerhaeuser (WY) remains the analyst's favorite name.

CTT

CatchMark Timber

$8.12

0.09 (1.12%)

WY

Weyerhaeuser

$24.20

-0.09 (-0.37%)

  • 01

    Feb

CTT CatchMark Timber
$8.12

0.09 (1.12%)

11/14/18
RILY
11/14/18
NO CHANGE
Target $12
RILY
Buy
CatchMark Timber price target lowered to $12 from $14.50 at B. Riley FBR
B. Riley FBR analyst Craig Kucera lowered his price target for CatchMark Timber Trust to $12 citing the falling multiples of timber real estate investment trusts. The analyst, however, keeps a Buy rating on the shares.
11/20/18
SBSH
11/20/18
INITIATION
Target $10.5
SBSH
Neutral
CatchMark Timber initiated with a Neutral at Citi
Citi analyst Anthony Pettinari started CatchMark Timber Trust with a Neutral rating and $10.50 price target. The analyst likes CatchMark's portfolio focus, but is cautious on a Southern log price recovery. He expects prices to bounce "along the bottom" in 2018.
11/20/18
11/20/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Hexcel (HXL) initiated with a Neutral at Longbow. 2. CatchMark Timber (CTT) initiated with a Neutral at Citi. 3. Brookfield Business Partners (BBU) initiated with an Outperform at BMO Capital. 4. Invitae (NVTA) assumed with a Buy at Benchmark. 5. Molecular Templates (MTEM) initiated with an Outperform at Cowen. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/14/19
SBSH
01/14/19
UPGRADE
SBSH
Buy
CatchMark Timber upgraded to Buy from Neutral at Citi
Citi analyst Anthony Pettinari upgraded CatchMark Timber to Buy saying the company's dividend yield looks attractive following the stock's underperformance in 2018.
WY Weyerhaeuser
$24.20

-0.09 (-0.37%)

10/30/18
DADA
10/30/18
UPGRADE
Target $50
DADA
Buy
PotlatchDeltic upgraded to Buy at DA Davidson on valuation
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.
11/20/18
ARGS
11/20/18
NO CHANGE
Target $34
ARGS
Buy
Weyerhaeuser price target lowered to $34 from $40 at Argus
Argus analyst Jacob Kilstein lowered his price target on Weyerhaeuser to $34 after its Q3 earnings miss, also lowering his FY18 EPS view to $1.27 from $1.52 to reflect the management's expectations of lower Q4 earnings in the Timberlands and Wood Products segments. Longer term, the analyst keeps his Buy rating on Weyerhaeuser shares, noting that in spite of the weak Q3, he still sees "positive trends in housing starts, strong demand from China, and the acquisition of Plum Creek Timber as growth drivers" for the company.
01/02/19
BOFA
01/02/19
DOWNGRADE
BOFA
Neutral
Weyerhaeuser downgraded to Neutral from Buy at BofA/Merrill
01/02/19
01/02/19
DOWNGRADE

Neutral
Weyerhaeuser downgraded to Neutral at BofA/Merrill
As previously reported, BofA/Merrill downgraded Weyerhaeuser to Neutral from Buy and cut its price target to $26 from $33. Analyst George Staphos lowered 2019 estimates below consensus due to a continued decline in pricing, lack of industry optimism regarding future demand, and "nasty comparisons" through 1H 2019.

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