Deutsche Bank Downgrades Fibria Celulose SA (FBR) to Hold; Operating in a Tough Environment

Deutsche Bank downgraded Fibria Celulose SA (NYSE: FBR) from Buy to Hold. PT lowered from $18 to $15.

Deutsche analyst says, "This move (downgrade) responds to the persistent strength of the Brazilian currency, a weakened earnings outlook and limited prospects for the company to get on a sustainable deleveraging path in the near to medium term. We've only made minor changes to our pulp price curve and have an average list BEK assumption of $851 for Europe this year. With the recent BEK cuts announced for July, potential for a significant upside surprise on this pricing scenario now looks remote to us."

For more ratings news on Fibria Celulose SA click here and for the rating history of Fibria Celulose SA click here.

Shares of Fibria Celulose SA closed at $12.94 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• SanDisk upgraded at JPMorgan after investor day; shares climb
• UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat