In a new note to investors on January 3, an analyst has provided a rating update for the Materials sector company, Norbord (OSB). The company received a Buy on January 3 from Scotiabank’s analyst Benoit Laprade, with a C$39 price target.
According to TipRanks.com, Laprade is a 2-star analyst with an average return of -0.4% and a 57.4% success rate. Laprade covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Louisiana-Pacific, and Cascades Inc.
Norbord has an analyst consensus of Moderate Buy, with a price target consensus of C$47.33.
Based on Norbord’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$170 million. In comparison, last year the company had a net profit of C$203 million.
Norbord, Inc. engages in the manufacturing, sales, marketing and distribution of panelboards and related products. Its products are used in the construction of new homes or in the renovation and repair of existing structures. The company was founded in 1987 and is headquartered in Toronto, Canada.
The company’s shares closed on Friday at C$35.25, close to its 52-week low of C$31.87.
