Today The MoneyLetter contributor John Stephenson recommends a stock that is benefitting from the housing market rebound.
“With the U.S. housing market solidly turning the corner, the best bets will be in lumber and building materials suppliers that are poised to benefit from an uptick in residential real estate. [Building products manufacturer] Louisiana-Pacific Corp. (LPX, NYSE) should outperform its peers as North American [lumber] supply/demand fundamentals remain very compelling.
“Louisiana-Pacific has improved its operations, strengthened its balance sheet and cut costs, positioning the firm well for the upturn in the U.S. housing market. I have a buy rating on the stock and a twelve-month price target of $25.00.”
John Stephenson, CFA, The MoneyLetter, www.adviceforinvestors.com, 800-804-8846, June 2013