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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