Fortress Paper Ltd. (TSE:FTP) was upgraded by investment analysts at Raymond James Financial Inc. from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday. The brokerage presently has a C$8.00 target price on the stock, up from their prior target price of C$5.00. Raymond James Financial Inc.’s target price suggests a potential upside of 28.00% from the stock’s current price.
Separately, Scotiabank raised their price objective on Fortress Paper from C$4.00 to C$4.25 and gave the company an “underperform” rating in a report on Friday, June 24th.
Fortress Paper (TSE:FTP) opened at 6.25 on Wednesday. The company’s market cap is $92.58 million. The stock’s 50 day moving average price is $4.76 and its 200 day moving average price is $3.98. Fortress Paper has a 52-week low of $2.84 and a 52-week high of $6.25.
Fortress Paper Company Profile
Fortress Paper Ltd. is a Canada-based producer of specialty pulp, security papers and other security related products. The Company operates through two segments: the Dissolving Pulp and the Security Paper Products. The Company operates its dissolving pulp business through the Fortress Specialty Cellulose (FSC) mill located in Thurso, Quebec, Canada, which also operates in the renewable energy generation sector through its cogeneration facility.
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