In a report published Wednesday, Deutsche Bank analyst Debbie Jones reiterated a Buy rating on P.H. Glatfelter GLT, but lowered the price target from $35.00 to $31.00.
In the report, Deutsche Bank noted, “Despite Q1 weather-related issues in NA and tepid demand in mature markets, companies are apt to see revenues increase from the roll through of pricing initiatives (e.g. containerboard). Cost cutting/restructuring efforts are apt to drive improvement across much of our coverage universe. Recent M&A moves are also expected to drive outsized growth for some stocks.
"In this report, we have made additional adjustments for weather-related production issues (IP/RKT) and reduced our PT for Glatfelter from $35 to $31/share due to tempered expectations for uncoated freesheet price increases as well as exposure to Russia/Ukraine end-mkts.”
P.H. Glatfelter closed on Tuesday at $25.75.
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