Zacks Investment Research upgraded shares of Stora Enso OYJ (NASDAQ:SEOAY) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $14.00 target price on the basic materials company’s stock.

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. “

Shares of Stora Enso OYJ (NASDAQ:SEOAY) opened at 12.83 on Wednesday. The firm has a 50-day moving average of $12.32 and a 200 day moving average of $11.14. Stora Enso OYJ has a 52-week low of $7.48 and a 52-week high of $13.03. The firm has a market cap of $10.12 billion and a PE ratio of 20.27.

Stora Enso OYJ (NASDAQ:SEOAY) last posted its earnings results on Thursday, April 27th. The basic materials company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.62 billion. On average, equities analysts predict that Stora Enso OYJ will post $0.81 earnings per share for the current 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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