Weyerhaeuser upgraded at Longbow
As previously reported, Longbow upgraded Weyerhaeuser to Buy from Neutral. The analyst upgraded shares due to recent share weakness and expects the sale or spin-off of the real estate business to act as a near-term catalyst. Longer-term, the firm expects rising forest products demand and reduced supply from Canada to drive shares higher. Price target is $34.
They didn't go to 'far out on the limb' with this call. Look for more dividend increases along with a 'special one' when they sell / spinoff real estate business. ( I look for it to touch $40 sometime next year).