PCH - PotlatchDeltic stock gains over 6% as RBC upgrades sees attractive entry point

• PotlatchDeltic ( NASDAQ: PCH ) climbed 6.7% to a near five-week high after RBC Capital upgraded the stock to Outperform from Sector Perform, saying it offers an "attractive entry point".
• The brokerage also raised its price target on PotlatchDeltic ( PCH ) to $55 from $50, implying 29% potential upside to its last close.
• "We think PotlatchDeltic ( PCH ) is attractively valued against a backdrop of upcoming return of capital events (a probable special dividend and share repurchase activity) and continued strong valuations for timberlands in the U.S. South," analyst Paul Quinn wrote in a note to clients.
• Quinn noted that the firm's special dividend will likely be "much lower" than the $4/share special dividend announced in Dec.
• The analyst also highlighted PotlatchDeltic's ( PCH ) more diversified portfolio in the U.S. South. With the CatchMark deal closing, the firm's total timberland portfolio in the U.S. South crossed 1.5M acres.
• RBC Capital's very bullish view on PotlatchDeltic ( PCH ) is in line with SA Quant's Strong Buy rating . Wall Street analysts on average rate the stock Buy (3 Strong Buy, 4 Hold).
• Shares of PotlatchDeltic ( PCH ) have fallen ~23% YTD.

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