Fortress Paper Rating Reiterated by Scotiabank (FTP)
Fortress Paper (TSE:FTP)‘s stock had its “underperform” rating reissued by research analysts at Scotiabank in a report released on Wednesday. They currently have a C$2.00 price target on the stock. Scotiabank’s price objective would suggest a potential downside of 12.66% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at CIBC cut their price target on shares of Fortress Paper from C$3.00 to C$1.40 in a research note on Monday, August 11th. They now have an “underperform” rating on the stock. Analysts at RBC Capital reiterated an “underperform” rating on shares of Fortress Paper in a research note on Friday, August 8th. They now have a C$1.50 price target on the stock, down previously from C$1.75.
Fortress Paper (TSE:FTP) traded up 5.24% during mid-day trading on Wednesday, hitting $2.41. The stock had a trading volume of 48,140 shares. Fortress Paper has a one year low of $1.82 and a one year high of $7.41. The stock’s 50-day moving average is $2.61 and its 200-day moving average is $3.12. The company’s market cap is $35.3 million.
Fortress Paper (TSE:FTP) last issued its quarterly earnings data on Friday, August 8th. The company reported ($1.26) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.83) by $0.43. On average, analysts predict that Fortress Paper will post $-4.53 earnings per share for the current fiscal year.
Fortress Paper Ltd. (TSE:FTP) is an international producer of specialty pulp, specialty papers, security papers and other security related products.
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