BMO Capital Markets Downgrades Norbord to Market Perform (NBD)
Norbord (TSE:NBD) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Monday, American Banking & Market News reports. They currently have a C$30.00 target price on the stock, down from their previous target price of C$36.00. BMO Capital Markets’ price target would suggest a potential downside of 1.51% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital cut their price target on shares of Norbord from C$40.00 to C$35.00 in a research note to investors on Wednesday, October 9th. They now have an “outperform” rating on the stock. Separately, analysts at Raymond James cut their price target on shares of Norbord from C$34.50 to C$32.00 in a research note to investors on Monday, October 7th. They now have a “market perform” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of C$32.97.
Norbord (TSE:NBD) traded down 1.08% on Monday, hitting $30.13. The stock had a trading volume of 136,686 shares. Norbord has a 52-week low of $19.17 and a 52-week high of $37.93. The stock’s 50-day moving average is $29.48 and its 200-day moving average is $31.36. The company has a market cap of $1.600 billion and a price-to-earnings ratio of 7.63.
Norbord Inc (TSE:NBD) is an international producer of wood-based panels, with 13 plants United States, Europe and Canada.
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