UPDATE: BMO Capital Downgrades Glatfelter (GLT) to Market Perform
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BMO Capital analyst Mark Wilde downgraded Glatfelter (NYSE: GLT) from Outperform to Market Perform with a price target of $19.00 (from $21.00).
The analyst comments "GLT facing near-term headwinds. We like management and the ongoing portfolio pivot, but we are concerned about the next 6-12 months. COVID-19 has dampened volumes in tabletop and metallized products (labels), while commodity inflation (especially pulp) looks like headwind through much of 2021. GLT has announced price increases in Composite Fibers, effective March 15, but those gains will take time to roll through. As a result, we are moving to the sidelines and trimming our target price to $19 (from $21)."
Shares of Glatfelter closed at $17.20 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
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