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Fly News Breaks for June 14, 2019
Jun 14, 2019 | 05:03 EDT
BMO Capital analyst Ketan Mamtora upgraded Louisiana-Pacific (LPX) to Outperform from Market Perform and raised his price target for the shares to $28 from $26. Louisiana-Pacific and Norbord's (OSB) announcements to indefinitely idle oriented strand board mills remove 5% of industry capacity, Mamtora tells investors in a research note. The analyst believes this should alleviate supply overhang and aid OSB prices. Mamtora has also been encouraged by the progress in transforming Louisiana-Pacific into a more diversified building products company. The analyst this morning also upgraded Norbord to Outperform from Market Perform.
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