Norbord Inc. T.OSB

Forest Products Lumber & Wood Production

"Norbord is the largest global producer of oriented strand board, which is used as a structural panel for building applications. The majority of its mills are located throughout the United States, with additional capacity in Northern Europe."

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Norbord Inc.

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Post by TELEMARKERon Nov 10, 2020 1:24pm

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Post# 31871099

stockwatch $60

Globe says Norbord a "top pick" at Raymond James

2020-11-09 08:33 ET - In the News

The Globe and Mail reports in its Saturday edition that RBC analyst Paul Quinn raised his target for Norbord to $60 from $57. The Globe's David Leeder writes that Mr. Quinn reiterated his "outperform" call. Meanwhile, Raymond James analyst Daryl Swetlishoff increased his share target to $60 from $56, while maintaining a "strong buy" rating. Analysts on average target the shares at $53.45. Mr. Swetlishoff says in a note: "Norbord remains a top pick reflecting demonstrated operating/cost leadership, the margin growth/stabilization strategy and a focus on corporate resilience. Norbord doubled the quarterly dividend to 60 cents a share (2.5-per-cent yield) a conservative increase (relative to record earnings) however, consistent with historic ranges and the stated goal of maintaining enhanced financial flexibility. Based on our forecast for continued very strong earnings we highlight high potential for further dividend increases as macro and seasonal uncertainty abates. Norbord is an excellent derivative play to capitalize on the bullish U.S. housing market outlook. We also highlight Norbord's focus on improved communication surrounding strong ESG credentials as a potential catalyst for share price appreciation."