Deutsche Bank Resumes Coverage on Fibria Celulose SA (FBR) at Hold; Improved Balance Sheet, But Macro View Not Strong

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Deutsche Bank resumes coverage on Fibria Celulose SA (NYSE: FBR) with a Hold. PT $8.00.

Deutsche analyst said, "Fibria's balance sheet situation improved with its follow-on offering and it is poised to generate significant positive equity free cash flow this year, helped by a weaker Real and lower net debt. Nonetheless, we believe a neutral stance is warranted given major global macro headwinds and the challenging supply scenario (with the Eldorado mill on track to start-up at the end of the year).

For an analyst ratings summary and ratings history on Fibria Celulose SA click here. For more ratings news on Fibria Celulose SA click here.

Shares of Fibria Celulose SA closed at $6.51 yesterday, with a 52 week range of $6.00-$13.79.

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