Fortress Paper Ltd. (FTP) PT Raised to C$6.00
Fortress Paper Ltd. (TSE:FTP) had its price objective lifted by analysts at Scotiabank from C$4.50 to C$6.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “underperform” rating on the stock. Scotiabank’s target price suggests a potential downside of 11.11% from the company’s previous close.
Separately, Raymond James Financial Inc. upgraded Fortress Paper from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$5.00 to C$8.00 in a research note on Wednesday, September 28th.
Shares of Fortress Paper (TSE:FTP) opened at 6.75 on Wednesday. The company has a 50-day moving average of $6.61 and a 200 day moving average of $4.68. Fortress Paper has a 12-month low of $2.84 and a 12-month high of $7.30. The stock’s market capitalization is $99.99 million.
About Fortress Paper
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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