UPDATE: Dundee Initiates Coverage on Louisiana-Pacific (LPX)

Dundee analyst Stephen Atkinson initiated a Sell rating on Louisiana-Pacific LPX with a $13 price target amid a conservative outlook on U.S. housing demand.

In addition to his conservative outlook on U.S. housing demand, Atkinson says the OSB industry is in the midst of a price war, which is what he attributes to his below consensus EPS estimates.

For the second quarter of 2014 Atkinson is forecasting an EPS of -$0.06 compared to a $0.06 consensus and an EBITDA of $26 million compared to a consensus of $43 million.