LP Building Solutions price target lowered to $117 from $123 at DA Davidson

DA Davidson lowered the firm’s price target on LP Building Solutions (LPX) to $117 from $123 and keeps a Buy rating on the shares. The firm cites “more challenged” oriented strand board – OSB – market dynamics as benchmark pricing has declined about $70/msf since early May, the analyst tells investors in a research note. DA Davidson adds however that it would continue to focus investors on the above-market growth and expanding margins that remain on track within the Siding business.