The Globe and Mail reports in its Tuesday, Oct. 23, edition that BMO Nesbitt Burns analyst Ketan Mamtora upgraded Norbord ($26.10)
to "market perform" from "underperform" (all figures U.S. unless otherwise stated). The Globe's David Leeder writes in the Eye On Equities column that Mr. Mamtora elevated his share target to $34 from $26. Analysts on average target the shares at $45 (Canadian). Mr. Mamtora says in a note: "Over the past 12 months, Norbord's stock is down 30 per cent (S&P up 8 per cent). While there is still some downside risk to the stock from rising OSB supply and signs of flattening out in housing starts, we think the risk/reward is much more balanced at current stock price levels."
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