Market Overview

UPDATE: Canaccord Genuity Downgrades Resolute Forest Products to Hold on Limited Upside

Related RFP
Mid-Morning Market Update: Markets Open Lower; Bank of America Profit Beats Estimates
Watch These 8 Huge Call Purchases In Thursday Trade

Canaccord Genuity downgraded Resolute Forest Products (NYSE: RFP) from Buy to Hold and maintained a $14.00 price target.

Canaccord Genuity said, "With the share price increasing approximately 30% since mid-November and just a 3% return implied to our target price, we are downgrading the shares to HOLD (from Buy) on share price appreciation and maintaining our US$14.00 target price. While we view the sawmill announcement as a positive move for the company, a recent decline in newsprint prices and uncertainty in some of its end markets causes us to take a neutral stance following the increase in the share price."

Resolute Forest Products closed at $13.64 on Thursday.

Latest Ratings for RFP

Jun 2017CIBCUpgradesUnderperformerSector Perform
Jan 2017ScotiabankDowngradesSector PerformSector Underperform
Apr 2016RBC CapitalDowngradesOutperformSector Perform

View More Analyst Ratings for RFP
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Downgrades Analyst Ratings


Related Articles (RFP)

View Comments and Join the Discussion!