Smurfit-Stone: Bounce Candidate
Deutsche Bank is out with a good call on
Smurfit-Stone (NASDAQ:SSCC) & other badly beated down sector names saying
recent event may support containerboard prices: 1) an explosion is causing an unexpected outage at a large IP mill 2) the IP/WY deal received quick regulatory approval. Without that IP mill, the effective linerboard operating rate is near practical capacity. At the same time, the rapid approval of the IP/WY deal removes a potential "loose cannon" from the market. Firm notes the loss of IP's Vicksburg mill is a "big deal" - if the mill is out for any extended period of time. Maintains Buy & $15 target on SSCC.
Notablecalls: SSCC represents a very nice bounce candidate here, in my opinion.
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