UPDATE: Credit Suisse Downgrades Mercer International On Price Appreciation

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In a report published Thursday, Credit Suisse analyst Andrew M. Kuske downgraded the rating on
Mercer InternationalMERC
from Outperform to Neutral, but reiterated the $12.00 price target. In the report, Credit Suisse noted, “We are downgrading our Mercer International rating to Neutral from Outperform largely the result of share price appreciation. Over multiple timeframes, the stock has delivered both absolute and relative out performance against a number of peers. Despite the ratings downgrade, the stock remains well exposed to a robust NBSK market along with facing favourable FX movements of late. With an insufficient potential return to target, we downgrade the stock to Neutral from the previous Outperform rating.” Mercer International closed on Wednesday at $11.37.
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Posted In: Analyst ColorDowngradesAnalyst RatingsAndrew M. KuskeCredit Suisse
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