Clearwater Paper price target lowered to $19 from $20 at RBC Capital

RBC Capital analyst Matthew McKellar lowered the firm’s price target on Clearwater Paper (CLW) to $19 from $20 and keeps an Outperform rating on the shares. The company reported Q1 adjusted EBITDA of $1.9M, slightly ahead of the firm’s estimate, and while conditions in SBS are challenging, RBC expects that supply-demand balance could improve somewhat on lower imports and substitution between paperboard grades, the analyst tells investors in a research note. The firm adds that it continues to view the stock as cheap.