RBC Capital Markets analyst Paul Quinn has hiked his rating on shares of Louisiana-Pacific to ‘outperform’ from ‘sector perform.’ Quinn also has bumped up his price target to $19 from $16 for LP, which opened this morning (Ticker: LPX) at $16.06. Quinn’s main reason is the positive price trends for the Nashville-based company’s core oriented strand board products: He notes that prices have risen by double-digit percentage points over the past five weeks.
A trio of development groups is attempting to acquire a Gulch site from which a storage business operates across Division Street from Yazoo Brewing Co.
The Tennessean reports that Tommy Pierce, president of A+ Storage of Tennessee and majority owner of the property, expects to reach an agreement with one of the prospective suitors by the end of September.
The morning daily notes the developers are based in Georgia, Texas and Nashville, respectively. Options include a residential tower, a building with luxury apartments or condos, and a luxury hotel building with a music/television studio.
The two-acre property sits at 909 and 911 Division St., sandwiched by the sites of the Fairfield Inn & Suites and mixed-use mid-rise Terrazzo. It also is located a few blocks west of the point at which Metro will connect Division and Ash Street via a viaduct, a move that is expected to spur development on what is the southern segment of downtown.
See the site here courtesy of Google Maps.
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