The Globe and Mail reports in its Tuesday, Jan. 23, edition that Scotia Capital analyst Ben Isaacson rates Western Forest Products "sector perform" in new coverage, with an 80-cent share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at 76 cents. Mr. Isaacson says in a note: "Western Forest is the only company under our coverage that offers significant exposure to specialty lumber, with operations largely located in coastal British Columbia. Specialty lumber, which makes up 60 per cent of the portfolio, has historically offered higher and more stable margins than commodity lumber. That said, overall volatility in lumber markets has challenged the company's financials, its shareholder distribution, and, as a result, investor confidence. This is why Western Forest is now trading at 0.4 times book value. While the valuation looks attractive, cycle recovery delays could further erode the balance sheet, which is what keeps us on the sidelines. To get more excited about the story, we're looking for a recovery to consistent positive quarterly EBITDA and FCF, a reduction of leverage, and of course, an eventual reinstatement of the dividend."