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Investing.com - Desjardins initiated coverage on Doman Building Materials Group Ltd (TSX:DBM) (OTC:CWXZF) with a Buy rating and a price target of C$11.00.
The Canadian financial services firm highlighted Doman’s established position as a leading producer of pressure-treated lumber and distributor of building products, primarily serving the residential construction market.
Desjardins noted that Doman has successfully navigated fluctuations in the housing market over recent years while strengthening its market position.
The firm’s positive outlook for Doman is based on four key factors: the importance of pressure-treated products in outdoor structures, anticipated tailwinds from an upcoming housing market recovery, strong cash flow generation, and merger and acquisition opportunities.
Doman Building Materials Group primarily operates in the North American market, with the company’s pressure-treated lumber products forming a core part of its business offering to residential construction customers.
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