11:57 AM EDT, 07/30/2024 (MT Newswires) -- Lumber markets remain extremely challenged and producers are starting to reduce supply, notes BMO's Ketan Mamtora. He expects more capacity reductions as lumber prices have been at/below cash costs for four quarters.

West Fraser Timber's ( WFG ) balance sheet is strong (net cash increased to $6/share) and provides financial flexibility. It reported strong second quarter earnings last week and a dividend increase.

BMO is raising its target on the company to US$105. Maintain Outperform.

Price: 122.12, Change: +2.08, Percent Change: +1.73