Mercer price target lowered to $7 from $7.50 at Raymond James

Raymond James lowered the firm’s price target on Mercer (MERC) to $7 from $7.50. The firm keeps a Market Perform rating on the shares based on the company’s high leverage and muted free cash flow profile, but notes that near term upward earnings revisions for Q4 could put a bid under the stock, the analyst tells investors in a research note.