TD Securities Downgrades Domtar (UFS) to Hold

April 26, 2013 9:02 AM EDT Send to a Friend
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Price: $45.20 +1.25%

Rating Summary:
    8 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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TD Securities downgraded Domtar (NYSE: UFS) from Buy to Hold with a price target of $80.00 (from $90.00). Yesterday the company reported disappointed Q1 results.

"This represents Domtar's worst quarterly result since Q2/09. Unit costs at the company’s paper mills were above expectations, reflecting productivity shortfalls and unexpectedly high input usage/cost inflation," said analyst Sean Steuart. "A portion of the earnings miss can be attributed to poor paper segment productivity related to the Marlboro mill repurposing. Even adjusting for this factor, margins were still a significant disappointment."

For an analyst ratings summary and ratings history on Domtar click here. For more ratings news on Domtar click here.

Shares of Domtar closed at $68.40 yesterday.

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