Goldman Sachs downgraded shares of building materials supplier Louisiana-Pacific (LPX) from Buy to Neutral. The analysts at Goldman Sachs cited valuation as the reason for the downgrade as shares have climbed more than thirty percent over the last three months.
Investors were unfazed by the downgrade as shares are up almost one percent this morning.
And Wells Fargo downgraded units of Natural Resources Partners (NRP) from Market Perform to Underperform. Analysts are concerned that lower coal prices and smaller volumes could impact the company's ability to maintain its current quarterly dividend of $0.54 per share. With the downgrade, the firm reduced the valuation range for the company from $20 to $22 per share down to $16 to $18 per share.
Shares of NRP were trading lower this morning, off about two percent as the general markets continue to rally.
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