DOMTAR (UFS $78.49, rated Overweight target $125 cut from $139) HIGHER INPUT COSTS DRIVE LOWER VALUATION, BUT LOWER STOCK PRICE PRESENTS GREATER OPPORTUNITY FOR DOMTAR TO REPURCHASE SHARES 8/1/2011
CHINA BOOMS AS EVIDENCE OF STRENGTH MIXED WITH MILD HOLIDAYS 8/2/2011
U.S. STEEL (X $38.04, rating increased to Overweight from Neutral with $48 target) 8/2/2011
CENTURY ALUMINUM (CENX $11.69, rated Overweight with a $24 Target) POSSIBLE SIGNIFICANT REVISIONS PENDING 8/3/2011
WEYERHAEUSER (WY $18.96 rating increased to Neutral from Underweight) HOUSING MARKET CONDITIONS REMAIN BLEAK, BUT POSITIVE THIRD QUARTER OUTLOOK FOR CELLULOSE FIBERS 8/4/2011
ROCKTENN (RKT $55.28, rating increased to Neutral from Underweight) ROCKTENN’S INITIAL ANALYSIS OF SMURFIT’S ASSETS APPEARS TO HAVE BEEN INCOMPLETE. IT MANAGEMENT MAY FIND MORE ISSUES 8/5/2011
PLUM CREEK (PCL $36.19, rating increased to Neutral from Underweight) RATING INCREASED TO NEUTRAL AS PCL’S STOCK PRICE APPROACHES OUR TARGET 8/5/2011
ANGLO AMERICAN (AAUKY $20.50; Rated OVERWEIGHT; Price Target cut to $32 from $35.50); HIGHER COSTS RELATED TO THE APPRECIATION OF THE AUD AND RAND TRIM EARNINGS AND CASH GENERATING ABILITY 8/5/2011
CHINA BOOMS AS EVIDENCE OF STRENGTH MIXED WITH MILD HOLIDAYS 8/8/2011
NORBORD INC (NBRXF $9.826, rated Overweight, price target cut to $15 from $22) PERFECT STORM FORMING AGAINST WOOD MANUFACTURERS AS COST, PRICING, AND MARKET PRESSURES ARE ALL AGAINST THEM 8/10/2011