Resolute Forest Products Downgraded to Sector Perform
RBC Capital downgraded Resolute Forest Products Inc. (NYSE:RFP) to Sector Perform from Outperform with a price target of $23.
While the analysts continue to see value in the Contingent Value Right (CVR) that will entitle the holder to a share of future softwood lumber duty deposit refunds, they believe there are better opportunities in their coverage group given: (1) limited visibility to the timeline for refunds actually occurring, and (2) Resolute's stock is now trading above the cash consideration of $20.50 per share offered by Paper Excellence.
The analysts updated their estimates, now expecting 2022, 2023 and 2024 EBITDA estimates to be $644 million, $466 million, and $468 million, respectively.
| Symbol | Price | %chg |
|---|---|---|
| INKP.JK | 5375 | -0.93 |
| TKIM.JK | 5400 | 0.93 |
| CMPC.SN | 1385.1 | -0.93 |
| IFII.JK | 244 | -0.82 |
Resolute Forest Products Downgraded to Sector Perform
RBC Capital downgraded Resolute Forest Products Inc. (NYSE:RFP) to Sector Perform from Outperform with a price target of $23.
While the analysts continue to see value in the Contingent Value Right (CVR) that will entitle the holder to a share of future softwood lumber duty deposit refunds, they believe there are better opportunities in their coverage group given: (1) limited visibility to the timeline for refunds actually occurring, and (2) Resolute's stock is now trading above the cash consideration of $20.50 per share offered by Paper Excellence.
The analysts updated their estimates, now expecting 2022, 2023 and 2024 EBITDA estimates to be $644 million, $466 million, and $468 million, respectively.
Resolute Forest Products Downgraded to Sector Perform
RBC Capital downgraded Resolute Forest Products Inc. (NYSE:RFP) to Sector Perform from Outperform with a price target of $23.
While the analysts continue to see value in the Contingent Value Right (CVR) that will entitle the holder to a share of future softwood lumber duty deposit refunds, they believe there are better opportunities in their coverage group given: (1) limited visibility to the timeline for refunds actually occurring, and (2) Resolute's stock is now trading above the cash consideration of $20.50 per share offered by Paper Excellence.
The analysts updated their estimates, now expecting 2022, 2023 and 2024 EBITDA estimates to be $644 million, $466 million, and $468 million, respectively.
