Market Overview

UPDATE: Morgan Stanley Reduces PT to $8.60 on Fibria Celulose; Q1 Miss, Balance Sheet

Related FBR
FBR Says Dollar Tree To Meet Or Beat Dollar General On Family Dollar
American Eagle Q2 Beats Views; Some Analysts Still On Fence

Morgan Stanley reduces its price target from $9.10 to $8.60 on Equal-weight-rated Fibria Celulose (NYSE: FBR) on Q1 miss and balance sheet concerns.

Morgan Stanley comments, "1Q12 EBITDA came below our estimate on the back of higher-than-expected cash costs. Management is working diligently to improve FBR's balance sheet, but ND/EBITDA remains elevated and it still poses a risk in the event that China's pulp imports slow down and, consequently, pulp prices decline."

FBR closed at $7.10 on Monday.

Posted-In: Morgan StanleyAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

Related Articles (FBR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters