Weyerhaeuser price target lowered to $31 from $32 at CIBC

CIBC lowered the firm’s price target on Weyerhaeuser (WY) to $31 from $32 and keeps an Outperformer rating on the shares, citing weaker estimates following reductions to the firm’s Oriented Strand Board price deck. Despite short-term demand weakness in the Wood Products segment, the firm views Weyerhaeuser as well positioned to benefit from elevated duties on Canadian lumber, the analyst tells investors.