DA Davidson lowered the firm’s price target on Boise Cascade (BCC) to $95 from $100 but keeps a Buy rating on the shares. The firm’s checks suggest Engineered Wood Products, EWP, price pressure continuing, and if competition sustains through Q1 with low-mid single-digit sequential declines persisting, the firm warns that the vast majority of the EWP industry would likely be at/below cash production costs, at which point there could be more of a supply-response, the analyst tells investors in a research note.
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