Seaport Research Reworks its View on Weyerhaeuser (WY) After Q3

Weyerhaeuser Company (NYSE:WY) is included among the 13 Best Blue Chip Stocks to Buy Under $50.

On December 10, Seaport Research lowered its price target on Weyerhaeuser Company (NYSE:WY) to $33 from $35 while maintaining a Buy rating. The adjustment reflects the company’s third-quarter results.

In separate news, Weyerhaeuser Company (NYSE:WY) and Aymium announced that they have signed a memorandum of understanding (MOU) to work together on producing and selling 1.5 million tons of sustainable bicarbon each year for use in metals manufacturing. As the first step in this partnership, the two companies have created a joint venture called TerraForge Biocarbon Solutions. The venture will build a jointly owned facility next to Weyerhaeuser’s lumber mill in McComb, Mississippi, where wood fiber will be converted into bicarbon using a low-emissions, combustion-free process.

Under the agreement, both companies plan to secure long-term sales contracts and identify locations for several new production facilities across Weyerhaeuser Company (NYSE:WY)’s footprint over the next five years. The expansion will combine WY’s extensive timberlands and manufacturing network with Aymium’s proprietary technology and long record of producing bicarbon products.

Once fully scaled, the network of facilities could convert more than 7 million tons of wood fiber supplied exclusively by Weyerhaeuser Company (NYSE:WY) and produce 1.5 million tons of metallurgical-grade biocarbon each year.

Weyerhaeuser Company (NYSE:WY) is one of the largest private owners of timberlands globally. Founded in 1900, the company today owns and controls about 10.4 million acres of timberlands in the US.

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