Seeking Alpha

Plum Creek Timber (PCL -2%) shares are downgraded to Neutral from Buy at D.A. Davidson based on...

Plum Creek Timber (PCL -2%) shares are downgraded to Neutral from Buy at D.A. Davidson based on valuation. While the firm expects real estate to continue to improve into 2013, expectations are already discounted into PCL's valuation; absent acceleration beyond the current consensus of 900K units, the firm sees no catalyst to increase shares past $45.
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