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Resolute Forest downgraded to Underperform from Sector Perform at Scotiabank
The Fly

Resolute Forest downgraded to Underperform from Sector Perform at Scotiabank

Scotiabank downgraded Resolute Forest to Underperform from Sector Perform with a price target of $22.80, up from $22.40. With the waiting period under the HSR Act expired, the company’s merger with Domtar should close in early March, the analyst tells investors in a research note. At closing, Resolute Forest shareholders will receive $20.50 in cash and 1.0 of rights on any future refund of lumber duty deposits, the firm points out.

Published first on TheFly

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