Close

UPDATE: UBS Upgrades Buckeye Technologies (BKI) to Buy; Sell-off Created Opportunity

June 4, 2012 8:00 AM EDT
Get Alerts BKI Hot Sheet
Price: $75.76 --0%

Rating Summary:
    8 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
(Updated - June 4, 2012 10:36 AM EDT)

UBS upgraded Buckeye Technologies (NYSE: BKI) from Neutral to Buy with a price target of $36.00.

Analyst, Gail S. Glazerman, said, "Buckeye shares have sold off 27% from the late-January record-high. The S&P 500 is off only 11.5% over this period. BKI’s share price is essentially back to levels seen during the market sell-off last October. The S&P 500 is still 24% above Oct lows. While macro uncertainty has increased, we believe recent pressure in BKI shares is overdone and under-estimating the value in BKI’s business, internal restructuring/growth efforts and strength of its balance sheet."

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

Shares of Buckeye Technologies closed at $27.13 yesterday.


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

You May Also Be Interested In





Related Categories

Upgrades

Related Entities

UBS, Standard & Poor's