Resolute Forest Gets a Hold from RBC Capital

By Austin Angelo

RBC Capital analyst Paul Quinn reiterated a Hold rating on Resolute Forest (NYSE: RFP) yesterday and set a price target of $5. The company’s shares closed yesterday at $5.30.

According to TipRanks.com, Quinn is a top 25 analyst with an average return of 22.1% and a 82.1% success rate. Quinn covers the Consumer Goods sector, focusing on stocks such as Mercer International Inc, International Paper Co, and Meadwestvaco Corp.

Resolute Forest has an analyst consensus of Moderate Sell, with a price target consensus of $5.

Based on Resolute Forest’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $889 million and GAAP net loss of $45 million. In comparison, last year the company earned revenue of $877 million and had a GAAP net loss of $8 million.

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Resolute Forest Products, Inc. provides forest products. It owns and operates pulp and paper mills, and wood products facilities located in the United States, Canada and South Korea. The company operates its business through the following segments: Newsprint, Specialty Papers, Tissue, Market Pulp and Wood Products. It also produces lumber and other wood products for the residential-construction and home-renovation markets, as well as for specialized structural and industrial applications. Resolute Forest Products was founded on January 25, 2007 and is headquartered in Montreal, Canada.