- Louisiana-Pacific (LPX +10.7%) shares climb as investors absorb the company's $1.1B acquisition of Ainsworth Lumber. CEO Curt Stevens characterized the move as a play on the U.S. housing recovery and a chance to gain exposure to Asian markets.
- Following the announcement, Deutsche upgraded LPX to Buy with a PT of $21 ($20 previous): "In a segment legendary for aggressive & destructive 'herd behavior,' consolidation places latent capacity in a smaller number of hands and reduces the risk of too many players restarting too much capacity too quickly ... On its own, this deal looks attractive: ANS has the best margins among peers."
- DA Davidson also upgraded the company to Buy.
Louisiana-Pacific climbs on Ainsworth acquisition, upgrades
From other sites
at CNBC.com (Jul 28, 2014)
at CNBC.com (Nov 26, 2013)
at CNBC.com (Nov 14, 2013)
at CNBC.com (Sep 5, 2013)
at CNBC.com (Sep 4, 2013)
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