UPDATE: RBC Capital Upgrades Mercer International (MERC) to Outperform
- Wall St slumps as investors fret on rate hikes and recession
- Think September Was Bad? Watch Out for 'Octoberphobia', Stock Trader's Almanac Warns
- Goldman Sachs Slashes Year-End Target on S&P 500 to 3,600
- Oil: The 'R'-Word Rules as U.S. Crude Below $80 for Worst Week in 7
- Bond Crash of 2022 is a 'Doozy' - BofA
RBC Capital analyst Paul Quinn upgraded Mercer International (NASDAQ: MERC) from Underperform to Outperform with a price target of $15.00 (from $8.00).
The analyst commented, "When we moved Mercer to Underperform in October, our thesis was underpinned by a negative pulp market outlook in both the short and medium term. Since then, the outlook for pulp has markedly improved in the short-term due to signiﬁcant supply disruptions and the medium-term is also looking better due to the delayed start-up of new capacity. We also expect Mercer to see unusual one-time gains from European power prices and a repeat of strong lumber prices. Given the attractive near-term setup, we are increasing our rating to Outperform.
Shares of Mercer International closed at $11.15 yesterday.
You May Also Be Interested In
- UPDATE: B.Riley Upgrades Warrior Met Coal (HCC) to Buy
- Roth Capital Downgrades Tritium (DCFC) to Neutral
- Swatch Group AG (UHR:SW) (SWGAY) PT Lowered to CHF318 at Goldman Sachs
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Upgrades, Upgrades
Related EntitiesRBC Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!