Raymond James Upgrades Potlatch (PCH) to Outperform

Raymond James analyst Buck Horne upgraded Potlatch (NASDAQ: PCH) from Market Perform to Outperform with a price target of $45.00.

The analyst comments: "We are upgrading our rating on PotlatchDeltic (PCH) to Outperform (from Market Perform) and establishing a target price of $45, following its Q24 results and our recent model update. Given resilient strength in the pace of single-family home production (permits down just ~3% y/y in November), heavy YTD curtailments, and the near doubling of Canadian softwood lumber duties, cash market price realizations across the lumber composite index have increased to ~ $430/MBF in December ($428/MBF 4Q QTD as of December 13th). With a more favorable setup, we are increasing our 2024 average lumber realizations to ~ $425/MBF (from ~$410/MBF) and building in moderate pricing gains in 2025 to ~$475/MBF."

For an analyst ratings summary and ratings history on Potlatch click here. For more ratings news on Potlatch click here.

Shares of Potlatch closed at $38.75 yesterday.

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