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Fly News Breaks for April 2, 2018
UFS
Apr 2, 2018 | 06:50 EDT
BofA/Merrill analyst George Staphos downgraded Domtar to Neutral from Buy and raised its price target to $50 from $47. Staphos said shares are off from its earlier relative peak but remain up from year-ago levels. He expects continued price increases in uncoated free sheet capacity but but thinks most the good news of increasing operating rates on tightening supply could reflect a peak and said pulp trends could flatten out until Q3 as increased capacity hits the market and as inventory days increase.
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