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Fly News Breaks for May 5, 2015
May 5, 2015 | 12:34 EDT
Jefferies said the IRS ruling which appears to exclude the paper-making process from MLP status is a letdown, but noted that the firm had viewed the MLP opportunity as "more of a call" option for the companies in the space. The firm, which said that underlying fundamentals in containerboard have improved materially, views today's pullback as a buying opportunity and does not think there is meaningful further downside for the stocks from current levels. Paperboard stocks that have dropped today after the IRS ruling include KapStone Paper (KS), International Paper (IP), Packaging Corp. (PKG), RockTenn (RKT) and MeadWestvaco (MWV).
News For IP;RKT;MWV;PKG;KS From the Last 2 Days
May 10, 2021 | 07:35 EDT
Notable call activity was cited Friday in Rocket Companies (RKT) and Energy Transfer (ET).
May 9, 2021 | 21:45 EDT
Keefe Bruyette analyst Bose George lowered the firm's price target on Rocket Companies to $16 from $18 and keeps an Underperform rating on the shares following the Q1 results. The analyst has increased caution on the outlook for the mortgage industry as volumes normalize, which he believes will likely putt pressure on gain-on-sale margins into 2022.