Sector Snap: Timber, Wood, Paper Stocks Downgraded

NEW YORK (AP) — Shares of timber and wood products companies fell Wednesday after an analyst downgraded three such stocks, all of which she said are relatively expensive, especially in view of near-term challenges.

JPMorgan analyst Claudia Shank Hueston downgraded to "Neutral" from "Overweight" the shares of Montreal-based Domtar Corp., the largest uncoated freesheet maker in North America.

Domtar shares rose 88 percent in the last three months compared with an 84 percent gain in its sector and a 17 percent rise in the S&P 500 index, she said. Further, the company's profitability is vulnerable to the increasing strength of the Canadian dollar. ...