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Fly News Breaks for November 2, 2016
KS
Nov 2, 2016 | 08:04 EDT
After KapStone reported lower than expected Q3 EPS, Wells Fargo blames the miss on lower containerboard and export kraft paper prices. The firm thinks that, in the wake of the company's conference call, investors will expect its free cash flow to reach $200+M in 2017, putting its free cash flow yield at about 11.7% at current levels. Wells recommends buying the shares on any weakness and keeps an Outperform rating on the shares.
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