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DA Davidson raises its price target on Buy-rated Clearwater Paper
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.
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