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7034on Oct 27, 2010 9:03am
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Globe
GlobeGlobe says TD's Steuart now targets Fortress at $48
Ticker Symbol: C:FTP
Globe says TD's Steuart now targets Fortress at $48
Fortress Paper Ltd (C:FTP)
Shares Issued 12,195,080
Last Close 10/26/2010 $46.86
Wednesday October 27 2010 - In the News
The Globe and Mail reports in its Wednesday, Oct. 27, edition that Fortress Paper jumped 96 cents to finish Tuesday on the Toronto Stock Exchange at $46.86. The Globe's Darcy Keith writes in the Eye On Equities column that Fortress Paper stock has a 52-week range of $48.49 to $8.10. TD Newcrest analyst Sean Steuart expects that Fortress Paper's $91-million conversion of a northern bleached hardwood kraft mill in Thurso, Que., to a specialty cellulose operation to be completed by the third quarter of next year. Mr. Steuart upgraded his 12-month price target by $6 to $48. Dundee Securities analyst Richard Kelertas rated Fortress Paper "buy" in the Eye column on Aug. 12. Mr. Kelertas targeted the stock in one year at $31.50 a share. Fortress Paper shares were then going for $28.45. Jennings Capital analyst Russell Stanley rated Fortress Paper "buy" in the Eye column on March 23. The stock could then be had for $14.10. In the item Mr. Stanley upgraded his one-year target to $33 a share from $23. Bissett Microcap Fund manager Ralph Lindenblatt's recommendation to buy Fortress Paper stock was a feature of The Globe's Number Cruncher column on Feb. 25. The stock was then going for $13.03.
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