RE: Buy for 25As a forester turned banker and shareholder I guess I have a bias but this firm's value is pretty evident;
- over 40% of the coastal wood basket; cedar, cypress, and douglas fir have a demand pattern largely independent of the stick frame housing sector (no issues with pine beetle, and almost independent of residential housing market, etc.)
- management is committed, and demonstrating, favourable trends towards improving the efficiency and profitability of operations; shuttered ineffiicient mills, developing new markets, reorganizing shipping patterns, etc.
- owned by the preeminent turnaround specialist, not to mention value creater, Brookfield
- minority interest with a junk debt specialist who will continue to liquidate to sell as prices rise
Looking at the price of rivals (Interfor would be the best comparison @ about $4.50/share today) the value is this firm is evident; Brookfield will continue to improve for a the foreseeable future then flip (see Stelco, Great Lakes Power, etc. etc.) when a suitable offer is received.
JMHO -