RBC Capital Believes Norbord (TSX: OSB) Won’t Stop Here

By Jason Carr

Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Analyst Paul Quinn from RBC Capital rated Norbord (TSX: OSB) a Buy, setting a C$50 price target.

According to TipRanks.com, Quinn is a top 100 analyst with an average return of 21.4% and a 77.9% success rate. Quinn covers the Consumer Goods sector, focusing on stocks such as Rayonier Advanced Materials, Mercer International Inc, and International Paper Co.

Currently, the analyst consensus on Norbord is Strong Buy and the average price target is C$46, representing a 9.8% upside.

In a report issued on July 20, CIBC also reiterated a Buy rating on the stock.

Norbord’s market cap is currently C$3.61B and has a P/E ratio of 12.9.

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 on Friday at C$41.89, close to its 52-week high of C$44.07.