Louisiana-Pacific Corp (NYSE:LPX) is one of the best land and timber stocks to buy now.
The stock has retreated about 7% year to date, and the Street believes the dip presents a buying opportunity
Michal Bellan/ On May 8, DA Davidson reiterated a Buy rating on Louisiana-Pacific Corp (NYSE:LPX) stock but lowered the price target on the shares to $103 from $114. The firm based the price cut on what it described as near-term pressures on the company’s oriented strand board business. Other than that, DA Davidson made it clear that the price cut doesn’t reflect a decline in the stock’s perceived underlying value.
The firm highlighted some of the steps Louisiana-Pacific is taking to grow its business and noted an improved go-forward setup. These steps include capturing a larger share of the large builder market. The management considers this market underpenetrated and sees a massive opportunity ahead.