The Globe and Mail reports in its Tuesday edition that in a research note released Monday titled Time to Shake the Money Tree, Raymond James analyst Daryl Swetlishoff lowered his recommendation for Western Forest Products to "market perform" from "outperform." The Globe's David Leeder writes that Mr. Swetlishoff says the "company remains heavily impacted by structurally higher operating costs on the B.C. Coast." He cut his share target back by 45 cents to 85 cents. Analysts on average target the shares at $1.19. Mr. Swetlishoff says in a note: "With sector shares at trough valuations, lumber prices trading below cash costs and the seasonal trade around the corner we encourage investors to revisit the 'Tree Sector' investment thesis. After a brief summer rally, WSPF lumber prices have retreated with cash sitting at $403 (U.S.) per mfbm [thousand board feet] (and futures trading at a material discount). This compares to B.C. interior cash costs of $500 (U.S.) to $525 (U.S.). Structural panels have performed much better with OSB spot pricing holding at $500 (U.S.)/msf pushing 3Q23 average prices 65 per cent sequentially higher. ... Forest company shares have sold off and now trading at the low end of valuation ranges."