Analyst Actions: RBC Capital Keeps Outperform on Resolute Forest Products, Raises TP to $11, After Q4 Results
02:27 PM EST, 02/05/2021 (MT Newswires) -- Resolute Forest Products has kept its Outperform rating by RBC Capital. Its TP has been raised to $11, from $9.50.
The brokerage noted that Resolute reported Q4 results that were above RBC estimates but below consensus. After 40 years with Resolute, CEO Yves Laflamme is retiring but leaving the company in the capable hands of Remi Lalonde. While the last decade was characterized by portfolio changes, deleveraging, and getting the pension under control, "we think that the next decade will be about maintaining a stable balance sheet, returning capital to shareholders, and repositioning into growing markets (i.e., lumber, pulp and tissue)."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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