Why Mercer Shares Are Surging Today
Credit Suisse analyst Andrew M. Kuske upgraded Mercer International Inc. (NASDAQ: MERC) to Outperform from Neutral and raised the price target to $19 (an upside of 36%) from $18.50.
The analyst believes Mercer faces many positives ranging from commodity prices (pulp, lumber, and power) to favorable FX rates and a rather attractive valuation.
Kuske states that on a near-term basis, there are some concerns about the impact of a fire at the Stendal Pulp Mill and the impact of a potential economic recession.
The analyst mentions that the recent downward movement in MERC’s stock provides an interesting opportunity for potential performance.
Kuske believes that MERC’s various new business opportunities (like mass timber) are clearly interesting – albeit rather small at this stage in time.
Price Action: MERC shares are trading higher by 12.75% at $13.97 on the last check Wednesday.
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Latest Ratings for MERC
Date | Firm | Action | From | To |
|---|---|---|---|---|
Feb 2022 | Credit Suisse | Maintains | Neutral | |
Jan 2022 | RBC Capital | Upgrades | Underperform | Outperform |
Jan 2022 | Credit Suisse | Downgrades | Outperform | Neutral |
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