Mercer International Given Sector Underperform Rating at CIBC (MERC)
Mercer International (NASDAQ:MERC)‘s stock had its “sector underperform” rating reiterated by equities researchers at CIBC in a research report issued on Thursday, AR Network reports. They currently have a $7.00 price objective on the stock. CIBC’s price target indicates a potential downside of 1.41% from the stock’s previous close.
Mercer International (NASDAQ:MERC) remained flat at $7.10 during trading on Thursday. 30,874 shares of the company’s stock traded hands. Mercer International has a 52 week low of $5.87 and a 52 week high of $7.84. The stock has a 50-day moving average of $6.95 and a 200-day moving average of $6.76. The company’s market cap is $395.4 million.
A number of other firms have also recently commented on MERC. Analysts at RBC Capital cut their price target on shares of Mercer International (NASDAQ:MERC) from C$8.00 to C$7.00 in a research note to investors on Tuesday, August 6th. They now have a “sector perform” rating on the stock. Separately, analysts at Raymond James cut their price target on shares of Mercer International (NASDAQ:MERC) from $9.00 to $8.00 in a research note to investors on Monday, August 5th. They now have an “outperform” rating on the stock. Finally, analysts at Zacks downgraded shares of Mercer International (NASDAQ:MERC) from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, July 24th. They now have a $6.60 price target on the stock. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.93.
Mercer International Inc (NASDAQ:MERC) is a producer of market northern bleached softwood kraft (NBSK), pulp in the world.
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