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Fly News Breaks for April 30, 2019
OI, UFS, LPX
Apr 30, 2019 | 07:24 EDT
As previously reported, BofA Merrill Lynch analyst George Staphos upgraded Owens-Illinois (OI), Louisiana-Pacific (LPX) and Domtar (UFS), all to Buy from Neutral, to rebalance the firm's ratings in the packaging and paper sector following his recent downgrades of International Paper (IP) and Packaging Corp. (PKG). He said the upgrades are not a call on the quarter but reflect an improving global growth outlook as well as a more "risk-on" stance. He raised his price target on Owens-Illinois to $24 from $21, upped his target on Domtar to $58 from $56 and edged up his target on Louisiana-Pacific to $30 from $29.
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