BofA downgraded Suzano (SUZ) to Neutral from Buy with a price target of $11, down from $15. The firm, which revised its long-term pulp price assumption from $600/t to $550/t to reflect a reassessment of the industry’s structural fundamentals, downgraded Suzano to reflect its high sensitivity to pulp prices amid a more cautious long-term commodity outlook and signs that the current upcycle is approaching its end.
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Read More on SUZ:
- Suzano downgraded to Neutral from Buy at BofA
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