Stora Enso OYJ (NASDAQ:SEOAY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $16.00 target price on the basic materials company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.27% from the company’s current price.

According to Zacks, “Stora Enso is an integrated forest products company producing magazine papers, newsprint, fine papers and packaging boards, areas in which the Group is a global market leader. Stora Enso also conducts extensive sawmilling operations. To strengthen its market position and better serve customers in the United States, the company acquired the U.S.-based, Consolidated Papers, Inc. in 2000. “

Stora Enso OYJ (NASDAQ SEOAY) traded up 1.11% during midday trading on Wednesday, hitting $14.54. 23,460 shares of the stock were exchanged. Stora Enso OYJ has a 1-year low of $8.67 and a 1-year high of $14.56. The firm’s 50-day moving average price is $13.63 and its 200 day moving average price is $12.98. The firm has a market capitalization of $11.47 billion and a P/E ratio of 19.89.

Stora Enso OYJ (NASDAQ:SEOAY) last released its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.21 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $3.02 billion. Stora Enso OYJ had a net margin of 5.66% and a return on equity of 10.16%. Analysts expect that Stora Enso OYJ will post $0.81 earnings per share for the current fiscal year.

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About Stora Enso OYJ

Stora Enso Oyj is a provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. The Company’s segments include Consumer Board, Packaging Solutions, Biomaterials, Wood Products, Paper and Other. The Consumer Board segment develops and provides consumer packaging boards for printing and packaging applications.

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