UPDATE: DA Davidson Raises Target to $50 on Clearwater Paper
DA Davidson raises its price target on Buy-rated Clearwater Paper (NYSE: CLW) by $5 to $50 in operating earnings coming in expectedly strong.
DA Davidson says, "While Q4-11 was effectively an in line quarter from the perspective of our estimates – it was positive in many respects. Clearly management is making an effort to improve its communication with the Street, and the lack of a surprise (positive or negative) in the quarter just ended gives us increased confidence in our ability to model Clearwater, which we believe is crucial when advocating the purchase of a stock. The company is also progressing on both the integration of CelluTissue and its legacy growth initiatives, while simultaneously eliminating the financial drag from the Lewiston lumber operation."
CLW closed at $36.91 a share on Thursday.
