Thursday December 20, 05:18 PM
Buckeye Technologies upgraded to "buy"
NEW YORK, December 20 (newratings.com) - Analysts at UBS (Virt-X: UBSN.VX - news) upgrade Buckeye Technologies Inc (ticker: BKI) from "sell"
to "buy," while raising their estimates for the company. The 12-month target price is set to $14.25.
In a research note published this morning, the analysts mention that despite a stabilisation in the fundamentals, the company's share price has declined by 40% in the past two months. Supply trends in the fluff pulp market are better than expected, supported by robust global demand and a weak US dollar, the analysts say. The market is underestimating the company's stronger balance sheet, UBS adds. The EPS estimate for 2009 has been raised from $1.00 to $1.20.
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