DA Davidson analyst Kurt Yinger lowered the firm’s price target on Weyerhaeuser (WY) to $35 from $36 and keeps a Buy rating on the shares. The price target reduction reflects a combination of weaker commodity wood product pricing and the demand/volume environment, the analyst tells investors in a research note. The pillars to support a stronger lumber pricing environment remain in place, despite a challenging overall housing demand backdrop and softness in commodity pricing that has continued to weigh on shares, DA Davidson argues.
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