Clearwater Paper price target lowered to $30 from $33 at RBC Capital

RBC Capital analyst Matthew McKellar lowered the firm’s price target on Clearwater Paper (CLW) to $30 from $33 and keeps an Outperform rating on the shares after its in-line Q3 adjusted EBITDA. Paperboard sales volumes were solidly ahead of our estimate and guidance in Q2, although pricing was about $20/ton weaker than RBC expected, the analyst tells investors in a research note. The firm continues to expect some combination of lower net imports and capacity rationalization to restore better balance to the SBS market, RBC added.