Deutsche Bank Downgrades Votorantim Celulose (VCP) to Hold
More News related to VCP
- Deutsche Bank Downgrades Votorantim Celulose (VCP) to Hold
- Merrill Lynch Downgrades Votorantim Celulose e Papel (VCP) to Neutral
- Goldman Sachs Starts Votorantim Celulose e Papel SA (VCP) at Buy
- Deutsche Bank Upgrades Votorantim Celulose (VCP) to Buy
- Citi Upgrades Aracruz Celulose S.A. (ARA) and Votorantim Celulose e Papel S.A. (VCP)
Deutsche Bank downgrades Votorantim Celulose (NYSE: VCP) from Buy to Hold as its $34 price target represents upside of only about 3% from yesterday's closing price of $33.15.
The firm believes that a recent rally in shares of Votorantim (up 8% this week) has been "unjustifiable" and drive by speculation related to consolidation in Latam. Deutsche said that it does not view consolidation as a catalyst due to "potential obstacles for a transaction between Lorentzen/Safra and Votorantim..." Also, Deutsche is concerned that Votorantim could see pressure from rising chemical costs.
Votorantim Celulose e Papel S.A. and its subsidiaries manufacture and market pulp and paper products in North America, Latin America, Europe, and Asia/the Middle East/Oceania/Africa.
Related Categories
DowngradesStocks Mentioned
-1.15Related Entities
Sign up for StreetInsider Free!
Recieve full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
