** TD Securities lowers lumber producer to ‘hold’ from ‘buy’ and its PT to C$2 from C$2.25
** Lowers earnings forecast in tandem with “more conservative” lumber price estimates and higher British Columbia Coast fibre cost forecasts
** Brokerage notes that Western Red Cedar, Japan specialty, and niche grades comprised 73% of WEF’s 2018 lumber sales; says prices of many of these high-value grades remain under pressure in early-2019
** Shift to a neutral stance reflects lack of apparent near-term earnings catalysts - TD
** Stock up ~2% YTD (Reporting by John Benny in Bengaluru)
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