May 01, 2012
| Forestry
Mercer Withdraws Fibrek Offer
Mercer Withdraws Fibrek Offer; Reiterating Targets & Ratings Event: Mercer International announced that it has withdrawn its $1.40 per share offer for Fibrek and it now appears the company will be acquired by Resolute Forest Products for ~$1.00/share. This comment provides our updated... Read more
Apr 10, 2012
| Forestry
Forest Products: 1Q12 Preview
Forest Products: 1Q12 Preview; Downgrading the Lumber Names Tapping out on the seasonal lumber trade – The seasonal trade has logged a third consecutive profitable year with commodityprices and the majority of building materials stocks in our coverage universe registering material gains from fall... Read more
Mar 01, 2012
| Forestry
Lumber Outlook: China Changes Everything
Lumber Outlook: China Changes Everything Download full report here. Seasonal lumber trade not done quite yet – While not as robust as the 60% - 80% returns we saw in the previous two years, theseasonal lumber trade is unfolding with BC lumber large-cap company share prices 25% - 30% higher from... Read more
Feb 22, 2012
| Forestry
Jan-2012 Pulp Stats
Jan-2012 Pulp Stats Reveal Improving Market Fundamentals; Upgrading CFX to Strong Buy Download full report here. EventThe Pulp and Paper Products Council released global pulp stats for Jan-2012 today revealing a material improvement insoftwood pulp markets. As a result we are upgrading... Read more
Feb 13, 2012
| Forestry
Pulp & Paper: The Emerging Softwood Super Cycle
Pulp & Paper: Peak Pulp - The Emerging Softwood Super Cycle Download entire article here. Permanent Capacity Shuts Restructure Industry – US Northern Bleached Softwood Pulp (NBSK) pulp prices hit record levels inJune 2011 – this despite sluggish demand associated with weak economic growth in... Read more
Jan 31, 2012
| Forestry
4Q11 Earnings Preview
Forest Products: 4Q11 Earnings Preview - Weak 4Q11 Belies Improving Fundamentals On the back of widening spreads between North American and Chinese commodity pricing we expect generally weak 4Q11 results from lumber and pulp producers. In fact, based on current street estimates we expect... Read more
Nov 21, 2011
| Forestry
