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Investing.com - DA Davidson has lowered its price target on Boise Cascade Company (NYSE:BCC) to $100.00 from $115.00 while maintaining a Buy rating on the stock. The company, currently trading at $85.21, is near its 52-week low of $83.60, though InvestingPro analysis suggests the stock is undervalued.
The price target reduction reflects weaker-than-expected second-quarter 2025 commodity pricing and deteriorating engineered wood product (EWP) prices, according to the research firm’s Friday report.
DA Davidson has adjusted its estimates below consensus based on recent channel checks that indicate "unabated EWP price deterioration" and moderated assumptions about the forward market conditions.
Despite the challenging near-term outlook, the firm maintained its Buy rating, citing Boise Cascade’s "undemanding valuation" and "strong competitive positioning" in the market.
The research firm also noted the potential for "another healthy special dividend providing downside support" for the building materials company’s stock.
In other recent news, Boise Cascade Company reported its first-quarter 2025 earnings, revealing an earnings per share (EPS) of $1.06, which fell short of the forecasted $1.47. However, the company managed to exceed revenue expectations, posting $1.54 billion against a forecast of $1.53 billion. Despite the revenue beat, the company’s net income dropped significantly compared to the previous year, reflecting ongoing challenges in the market. Truist Securities recently lowered its price target for Boise Cascade to $106.00 from $114.00, citing a softer-than-expected second quarter and a weak housing market impacting the company’s performance. Meanwhile, DA Davidson maintained a Buy rating with a revised price target of $115.00, expressing optimism about Boise Cascade’s strategic positioning and potential improvements in commodity-related segments. The company is also navigating a complex market environment with modernization projects and strategic capital deployment. Despite these challenges, Boise Cascade’s Building Materials Distribution segment showed stable results, supported by strong free cash flow and a solid net cash position.
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