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Fly News Breaks for August 5, 2019
MERC
Aug 5, 2019 | 07:19 EDT
As previously reported, RBC Capital analyst Paul Quinn downgraded Mercer International to Sector Perform from Outperform and lowered his price target for the shares to $14 from $20 after its Q2 earnings miss, saying the pulp market fundamentals have taken a turn for the worse. The analyst warns that while "most producers" expect conditions to improve in the second half of 2019, the recovery may take "much longer" because of rising trade tensions and "bloated" inventories, along with the unwillingness to reduce supply to balance the market.
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