UPDATE: DA Davidson Upgrades Boise Cascade Company on Weaker Commodities

In a report published on Thursday, DA Davidson upgraded its rating on Boise Cascade Company (NYSE: BCC) from Underperform to Neutral. Analysts believe that weaker commodities have lead the stock below its target.

In the report, analysts at DA Davidson stated that, "With Boise Cascade shares down 16% from their March 28th (quarter end) peak, we believe the initial momentum investors have taken profits, and the downside potential is significantly reduced. Indeed, with the shares now nearly a dollar below our $30 price target (7x 2014 EBITDA), our initial Underperform rating is no longer warranted and we are upgrading the shares to NEUTRAL."

Boise Cascade is up 1.46% on the day and currently trades at $28.93