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Fly News Breaks for January 7, 2020
Jan 7, 2020 | 08:29 EDT
Raymond James analyst Collins Mings upgraded PotlatchDeltic to Outperform from Market Perform with a $48 price target. In a research note to investors, Mings says he expects the homebuilders are poised to benefit from some of the strongest supply/demand fundamentals he has seen in the 10-year housing recovery to date. He notes that PotlatchDeltic shares have underperformed timber REIT peers by nearly 500bps in Q4, and believes this leaves notable potential upside as shares previously traded at a significant premium to NAV when the outlook for residential construction/wood product pricing has been particularly favorable.
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