Two of Middle Tennessee's publicly traded manufacturers have been on the sharp end of some analyst moves in recent days. At RBC Capital Markets, Stephen Atkinson lowered his rating on Louisiana-Pacific (Ticker: LPX) to 'sector perform' from 'outperform' but kept his $8 price target. Scotia Capital's Benoit Laprade has made a similar move — from 'sector perform' to 'underperform' — but actually raised his target slightly to $8.25.
Over at Bank of America Merrill Lynch, Oscar Cabrera has lowered his price target for shares of Noranda Aluminum to $8 from $10, 50 cents below where the stock (Ticker: NOR) is changing hands this morning. The culprit: A lower forecast for 2012 aluminum prices.
Benoit Laprade at Scotia Capital has upgraded shares of building products manufacturer Louisiana-Pacific to 'sector perform' from 'underperform.' Shares of Nashville-based LP (Ticker: LPX) are down about 6 percent year to date.
Wells Fargo analyst Gary Lieberman is the latest to come out with a recommendation on shares of the newly public HCA. He has launched coverage of the hospital giant with an 'outperform' rating and price target range of $34 to $39. HCA (Ticker: HCA) closed Monday trading at $32.08.
Two local stocks have had their price targets lowered today by analysts. Benoit Laprade at Scotia Capital has raised his rating on construction materials supplier Louisiana-Pacific to 'sector outperform' but has dinked his target down to $10.25 from $11. Shares of downtown-based LP (Ticker: LPX) are up more than 5 percent to about $7 today and have crept back into positive territory for the year. Shares of BioMimetic Therapeutics also are outpacing the broader market today despite a lowered target by Canaccord Genuity analyst William Plovanic. Plovanic reiterated his 'buy' recommendation, however, which has helped the stock (Ticker: BMTI) push 1.5 percent higher.
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