Fly News Breaks for February 26, 2020
Feb 26, 2020 | 07:39 EDT
DA Davidson analyst Steven Chercover upgraded Boise Cascade to Buy from Neutral with a price target of $44, up from $40. The analyst says the company's strong EWP volumes and Distribution segment results drove its higher than expected revenue and earnings in Q4. Chercover adds that commodity prices started the year on a "very strong" note and stand to benefit both of Boise's segments. The analyst further notes that with cash on the balance sheet at an "elevated" $285M, and with total liquidity in excess of $600M, Boise is "well positioned to invest back into the business".
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