Norbord Gets a Buy Rating from Scotiabank

By Carrie Williams

Yesterday, an analyst has provided a rating update for the Materials sector company, Norbord (TSX: OSB). Analyst Benoit Laprade from Scotiabank rated Norbord (TSX: OSB) a Buy, setting a C$44 price target.

Laprade has an average return of 29.1% when recommending Norbord.

According to TipRanks.com, Laprade is ranked #3453 out of 4575 analysts.

Currently, the analyst consensus on Norbord is Moderate Buy and the average price target is C$47, representing a 21.4% upside.

In a report issued on May 23, RBC Capital also reiterated a Buy rating on the stock with a C$50 price target.

Norbord, Inc. engages in the business of producing wood-based panels. Its products include sub floors, wall sheathing, roof sheathing and industrial. The company was founded in 1987 and is headquartered in Toronto, Canada.

The company’s shares closed last Monday at $38.72.