Plum Creek Timber upgraded to Outperform from Sector Perform at RBC Capital
RBC Capital upgraded Plum Creek Timber (PCL) to Outperform and increased its price target to $56 from $42 on shares following the acquisition by Weyerhaeuser (WY).
Analyst Paul Chan likes the merger and said synergies, increased liquidity, and broadened timberlands diversity will make the combined company the investment of choice for investors seeking exposure to the group.
It's nice to see an upgrade because the company will disappear.
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