Analyst Stephen Atkinson at BMO Capital Markets on Wednesday added to the optimism surrounding shares of Louisiana-Pacific. Prediciting a 20 percent jump in 2013 sales, Atkinson hiked his price target for LP shares (Ticker: LPX) to $24 from $18, leaving about 15 percent of upside from their current levels. Like others have said recently, Atkinson expects prices for oriented strand board to drop this year and next, but they'll still be high enough to power some serious profit growth.
John Perry at Deutsche Bank also has hiked his price target for Healthcare Realty Trust, but the REIT's outlook is nowhere near as bright as for LP. Perry's $24 target — up from $20 — is $1 below where Healthcare Realty (Ticker: HR) closed Wednesday's session, and he rates the stock — along with most of the other REITs he covers — a 'hold.'
On Thursday, Jan. 17, the United Service Organizations and Nashville International Airport will mark the beginning of construction of a USO center at the airport.
The facility, which is set to open in May during the 2013 USO World Leadership Conference in Nashville, will be the first USO center in Tennessee and will replace BNA’s current military lounge located on the ground transportation level.
USOs offer various programs and services for troops and military families. The new center will offer entertainment, computer services, a children’s play area and snacks. Its construction was made possible by the Airport and many USO donors and volunteers.
The fundamentals in the housing market definitely support strong optimism, but the sentiment surrounding shares of Louisiana-Pacific seems to be getting a bit frothy these days. The stock (Ticker: LPX) is up more than 2 percent today, taking it near its April 2007 levels, and the technicals suggest there's plenty more upside.
On top of that, analysts have been ramping up their profit estimates of late: In the past two months, the consensus for the Q4 EPS number LP execs will report a month from now has gone to 16 cents from 11 cents. The outlook for all of 2013 is up 25 percent since Halloween.
Shares of Louisiana-Pacific (Ticker: LPX) are putting a bow on their strong 2012 run — they're up more than 130 percent this year — with a rise of more than 2 percent this morning. The news driving today's gains comes from Canada, where a Forest Economic Advisors analyst says lumber prices will drop big time next year, which would help LP's margins.
The Nashville office of JE Dunn Construction Co. will serve as the general contractor for developer Ray Hensler's unnamed Gulch luxury residential tower. Dunn's contract is valued at $60 million. Hensler plans to break ground on the approximately $80 million tower in January. Based in Kansas City, Dunn has handled the construction of high-rise residential buildings in, among others, Atlanta, Austin and Charlotte.