CIBC Believes Norbord (OSB) Still Has Room to Grow


In a report released today, Hamir Patel from CIBC maintained a Buy rating on Norbord (OSB), with a price target of C$59.00. The company’s shares closed last Monday at $37.28, close to its 52-week high of $37.76.

According to TipRanks.com, Patel is a 5-star analyst with an average return of 16.5% and a 59.3% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co, Mercer International, and Resolute Forest.

Currently, the analyst consensus on Norbord is a Moderate Buy with an average price target of $40.52, which is a 10.6% upside from current levels. In a report issued on November 10, Scotiabank also maintained a Buy rating on the stock with a C$59.00 price target.

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The company has a one-year high of $37.76 and a one-year low of $8.92. Currently, Norbord has an average volume of 288.2K.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is neutral on the stock.

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Norbord, Inc. engages in the manufacturing, sales, marketing and distribution of wood-based 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.

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