OTCPK:SPPJY - Post by User
Post by
mart33on Apr 06, 2008 5:31pm
304 Views
Post# 14943451
from "neutral" to "outperform'
from "neutral" to "outperform'Analyst MW Connelly of Credit Suisse upgrades Sappi Limited
(SPP) from "neutral" to "outperform," while raising his estimates for the company. The target price has been raised from $14 to $17.
In a research note published yesterday, the analyst mentions that the fundamentals of the coated paper market are improving in both North America and Europe. Inventories in the industry have declined to low levels due to improved supply and delivery as well as M&As, the analyst says. A weaker Rand is expected to boost Sappi’s F2Q earnings, Credit Suisse adds. The EPS estimates for 2008 and 2009 have been raised to $1.04 and $1.46, respectively.