D.A. Davidson Upgrades Plum Creek Timber to "Neutral" (PCL)

D.A. Davidson Upgrades Plum Creek Timber to “Neutral” (PCL)


Since Plum Creek Timber Co. Inc. (PCL) has fallen below its price target, analysts at D.A. Davidson upgraded the timber REIT on Thursday.

D.A. Davidson analyst Steven Chercover upgraded PCL from “Underperform” to “Neutral” and maintained the stock’s $47 price target. This price target suggests a 4% upside to Wednesday’s closing price of $45.23.

Chercover noted, “Shares of Plum Creek (and all the Timber REITs) have come under pressure over the past month, as talk of Quantitative Easing tapering has combined with the stark drop in wood market pricing. Since our downgrade on April 30th, Plum Creek shares have fallen 12%. We think it’s time to revisit our recommendation given the stock has fallen below our $47 price target (which reflects our estimate of NAV). We are upgrading the shares from Underperform to NEUTRAL.”

Plum Creek Timber shares were down 62 cents, or -1.37%, during morning trading on Thursday. The stock is up +0.68% year-to-date.

The Bottom Line
Shares of Plum Creek Timber (PCL) have a dividend yield of 3.94% based on Thursday’s intraday trading price of $44.62 and the company’s annualized dividend payout of $1.76 per share.

Plum Creek Timber Co. Inc. (PCL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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