Citi Reiterates a 'Buy' on Verso Paper (VRS), Sees Dip as Huge Buying Opportunity
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Citi reiterates a 'Buy' on Verso Paper (NYSE: VRS). Price target $16.
Citi analyst says, "Verso Paper’s stock is now down 64% since September 9th’s $5.38 intra-day high (which occurred a week after major owner Ospraie Management disclosed that its main fund was closing). Regardless of whether Ospraie is out of its position or not, we believe there is no rational explanation for yesterday’s drop...Buy — We see VRS’s stock price as a huge buying opportunity."
Verso Paper Corp. is a leading North American producer of coated papers, including coated groundwood and coated freesheet, and supercalendered and specialty products.
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