Markets & Finance

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.

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