Louisiana-Pacific up after Truist upgrade on possible housing market recovery

Louisiana-Pacific

28/06/2023 15:24

** Shares of building materials manufacturer
Louisiana-Pacific  LPX.N  up 3.18% at $73.08
    ** Truist Securities upgrades to "buy" from "hold", citing
possible recovery in U.S. housing market, especially in
"single-family starts"
    ** Brokerage also raises PT to $82 from $49
    ** Brokerage says investors will be best positioned in LPX
given its high exposure to single-family home construction
    ** Single-family starts increased ~19% in May from April -
Brokerage
    ** Four of 10 brokerages rate the stock "buy", 4 "hold" and
2 "sell" or lower; their median PT is $69 - Refinitiv
    ** Up to Tuesday's close, LPX up 19.63% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))