Fortress Paper Ltd. (FTP) Trading Down 18.4% After Analyst Downgrade
Fortress Paper Ltd. (TSE:FTP) shares were down 18.4% during mid-day trading on Friday after Raymond James Financial lowered their price target on the stock from C$6.00 to C$4.50. Raymond James Financial currently has an outperform rating on the stock. Fortress Paper traded as low as C$3.40 and last traded at C$3.05. Approximately 48,621 shares were traded during trading, an increase of 474% from the average daily volume of 8,472 shares. The stock had previously closed at C$3.74.
About Fortress Paper
Fortress Paper Ltd. is a Canada-based producer of specialty pulp, security papers and other security related products. The Company operates through two segments: the Dissolving Pulp and the Security Paper Products. The Company operates its dissolving pulp business through the Fortress Specialty Cellulose (FSC) mill located in Thurso, Quebec, Canada, which also operates in the renewable energy generation sector through its cogeneration facility.
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