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UPDATE: Citigroup Upgrades Fibria Celulose to Neutral on Balanced Risk/Reward

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Morgan Stanley Upgrades Fibria Celulose On FX Benefits, Pulp Prices
Top 4 Stocks In The Paper & Paper Products Industry With The Highest Revenue

Citigroup raises its price target on Fibria Celulose (NYSE: FBR) from Sell to Neutral (both high risk), but reduces its price target from $8.30 to $7.10.

Citigroup says, "With Fibria shares down 25% YTD (vs -12% for the MSCI Brazil) we believe current valuations (7.4x EV/EBITDA) are correctly reflecting our cautious outlook for pulp fundamentals. We find less downside risk at current levels as the recent weakness in the BRL should provide support to earnings in the coming quarters; however, we do not yet feel compelled to build a position in FBR given 1) the expected pressure in pulp prices during 2H12 and 2) Fibria's stretched balance sheet."

FBR closed at $6.01 on Monday.

Latest Ratings for FBR

DateFirmActionFromTo
Aug 2015JP MorganRRMaintainsNeutral
Jul 2015Morgan StanleyUpgradesUnderweightEqual-weight
May 2015CitigroupDowngradesBuyNeutral

View More Analyst Ratings for FBR
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

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