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Fly News Breaks for August 1, 2019
CLW
Aug 1, 2019 | 06:30 EDT
As previously reported, RBC Capital analyst Paul Quinn downgraded Clearwater Paper to Underperform from Sector Perform and lowered his price target for the shares to $15 from $20. The analyst notes that the company's Q2 were "slightly ahead of expectations" thanks to the outperformance in Paperboard, but he sees the risk on the stock tilted to the downside given Clearwater's "elevated leverage", ongoing labor negotiations, and "significant" tissue capacity additions by the competition in North America markets.
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