RBC Capital Upgrades Weyerhaeuser to “Outperform” (WY)
RBC Capital reported on Monday that it has raised its rating on forest products company, Weyerhaeuser Company (WY).
The firm has upgraded WY from a “Sector Perform” to an “Outperform,” and has raised the company’s price target from $31 to $34. This price target suggests a 13% increase from the stock’s current price of $29.43.
The analyst upgraded the company due to the housing recovery and the possibility that lumber prices will rebound in the fall.
Weyerhaeuser shares were mostly flat during Monday morning trading. The stock is up 5% YTD.
The Bottom Line
Shares of Weyerhaeuser Company (WY) have a 2.72% yield, based on Monday morning’s price of $29.43.
Weyerhaeuser Company (WY) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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