J.P. Morgan Reiterates Overweight on Boise (BZ)

J.P. Morgan is out with its report today on Boise (NYSE: BZ), reiterating Overweight.

In a note to clients, J.P. Morgan writes, "Following up on our alert, the incremental color from the BZ/Tharco conference call was positive, in our view. The multiple on the deal looks reasonable to us (5.7x trailing EBITDA, with synergies), and 2012E EPS accretion could be $0.15+. While small caps tend to move out of favor in volatile markets such as this, which is clearly a risk, we continue to believe that BZ is inexpensive and a good opportunity for longer
term investors. We reiterate our top pick OW view."

J.P. Morgan has an $11.50 PT on BZ.

At the time of posting, shares of BZ were trading at $9.06, down 1.09% from Tuesday's close.