UBS Warburg Upgrades Boise Cascade to 'Strong Buy'
UBS Warburg upgraded Boise Cascade (BCC ) to strong buy from buy.
Analyst Richard Schneider says there's growing indications that paper markets are gaining some momentum. He says the April 1 uncoated free sheet price increase now meeting with success, April / May pulp price increases are seeing movement and spot prices in containerboard and pulp are firming.
Schneider notes the following correction in stocks from their March 4 highs; and it appears a recovery is starting to take hold. Also, paper stocks historically outperform when paper prices increase relative to the U.S. Producers' Price Index -- Schneider believes the company is moving into this type of period. He set a $43 target.