Louisiana-Pacific Corp (LPX) PT Lowered to $103 at DA Davidson on Near-Term Pressures

DA Davidson analyst Kurt Yinger lowered the price target on Louisiana-Pacific Corp (NYSE: LPX) to $103.00 (from $114.00) while maintaining a Buy rating.

The analyst commented, "Exiting 1Q earnings, we think the go-forward setup improves meaningfully with a lowered bar on Siding volumes for the remainder of the year and better understood inflationary cost pressures. Two new enterprise deals show traction with big builder share initiatives and meaningful ExpertFinish capacity expansions provide more runway for what has been a notable growth engine. We lower our PT from $114 to $103 as we moderate the OSB valuation in our SOTP model (reflective of NT pressures not an actual decline in perceived underlying value), but maintain our BUY rating."

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