Shift To Higher-Margin EWP Products Pays Off For Boise Cascade: Bullish Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities analyst Michael Roxland reiterated a Buy rating on Boise Cascade (NYSE:BCC), raising the price target to $129 from $100. Despite a 20% Y/Y slump in Q2 sales, the company's shift to higher-margin EWP products has resulted in strong margin performance. The analyst expects EWP prices to stay well above pre-COVID levels, despite a modest decline in 3Q. Roxland raised the EPS estimates for 2023, 2024, and 2025.
August 04, 2023 | 11:57 am
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Boise Cascade's shift to higher-margin EWP products has been praised by Truist Securities analyst, who raised the price target to $129 from $100. The EPS estimates for 2023, 2024, and 2025 have also been raised.
The analyst's positive outlook on Boise Cascade, including the raised price target and EPS estimates, indicates a bullish sentiment towards the company. This is likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100