In a report published on Monday, Deutsche Bank analyst Mark Wilde downgraded Glatfelter GLT from Buy to Hold and maintained a $26 price target.
In the report, Deutsche Bank stated, "Management continues to migrate GLT's business toward specialized engineered materials (based on both cellulose & synthetic fibers). Strong cash flow from the uncoated paper business provides cash to fund the transition. Over 50% of GLT's EBITDA is now derived from global platforms with strong growth prospects...We think expectations are quite strong and leave little room for error."
Glatfelter closed on Monday at $27.11.
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