Analyst Kurt Yinger of D.A. Davidson maintained a Buy rating on Boise Cascade, retaining the price target of $100.00.
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Kurt Yinger has given his Buy rating due to a combination of factors surrounding Boise Cascade’s strategic moves and market positioning. The recent expansion of Boise Cascade’s distribution of the TimberTech brand by JHX is seen as a positive development, enhancing their product offerings without negatively impacting their existing relationship with Trex. This strategic move allows Boise Cascade to diversify its product line, potentially capturing a broader market share.
Moreover, the overall market conditions, as indicated by contractor surveys, suggest a steady demand for decking projects, with slight growth expectations in the coming months. Despite some competitive pressures, Boise Cascade’s ability to adapt and expand its partnerships positions it well for future growth. These factors collectively contribute to Yinger’s optimistic outlook on the company’s stock, justifying the Buy rating.