Wells Fargo analyst Gabe Hajde initiated coverage of Magnera (MAGN) with an Overweight rating and $22 price target The firm views the risk/reward on Magnera shares as attractive, particularly for investors “able to endure near-term choppiness” as the industry works through a supply overhang. Magnera is the largest global player in nonwoven specialty materials, the analyst tells investors in a research note. The firm says demand normalization following the pandemic-induced elevated demand period for several of the company’s key products is entering year three. Magnera is in the late innings of a demand downcycle, though excess capacity could take more time to unwind, contends Wells.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MAGN:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue