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Fly News Breaks for December 30, 2019
UFS, OI, BERY
Dec 30, 2019 | 06:39 EDT
Goldman Sachs analyst Brian Maguire recommends that investors buy Domtar (UFS), Owens-Illinois (OI), and Berry Global (BERY) as part of a broader sector research note in the Paper & Packaging space. The analyst is keeping his Buy rating on all three names with respective price targets of $43, $13, and $58, stating that these stocks have the potential to go from laggards to leaders in 2020. Maguire sees improved pulp prices and capital reallocation driving Domter shares, while noting that Owens-Illinois and Berry Global should benefit from "balance sheet repair", "significant" free cash flow generation, and asset sales normalizing their leverage levels.
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