Domtar Corp (UFS) Receives a Hold from KeyBanc


In a report released today, Adam Josephson from KeyBanc maintained a Hold rating on Domtar Corp (UFS). The company’s shares opened today at $37.67.

Josephson wrote:

“We had already substantially reduced our estimates in recent months, but in hindsight not nearly enough. We have no reason to expect freesheet or pulp conditions to improve anytime soon, and in fact we think the bias to freesheet prices is downward. We’re reducing our 2019 adj. EBITDA estimate from $725M to $585M and our 2020 estimate from $665M to $520M. Pulp prices have been in free fall this year, and we have no reason to call a bottom here given profoundly weak global paper demand and continued high producer inventories and inventories at ports. And N.A.”

According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.2% and a 66.3% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.

Domtar Corp has an analyst consensus of Moderate Buy, with a price target consensus of $50.

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The company has a one-year high of $54.50 and a one-year low of $33.81. Currently, Domtar Corp has an average volume of 592.8K.

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Domtar Corp. engages in the design, manufacturing, marketing, and distribution of fiber-based products, which includes communication papers, specialty and packaging papers and absorbent hygiene products. It operates through the following segments: Pulp and Paper, and Personal Care.

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