Price Action Report: What’s Propelling Resolute Forest Products Inc to Increase So Much?

Price Action Report: What's Propelling Resolute Forest Products Inc to Increase So Much?

The stock of Resolute Forest Products Inc (NYSE:RFP) is a huge mover today! The stock increased 10.18% or $0.42 on November 23, hitting $4.6. About 196,337 shares traded hands. Resolute Forest Products Inc (NYSE:RFP) has declined 23.33% since April 22, 2016 and is downtrending. It has underperformed by 28.74% the S&P500.
The move comes after 6 months positive chart setup for the $396.95 million company. It was reported on Nov, 24 by Barchart.com. We have $4.78 PT which if reached, will make NYSE:RFP worth $15.88M more.

Analysts await Resolute Forest Products Inc (NYSE:RFP) to report earnings on February, 2.

Resolute Forest Products Inc (NYSE:RFP) Ratings Coverage

Out of 3 analysts covering Resolute Forest Products (NYSE:RFP), 0 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. $9 is the highest target while $7 is the lowest. The $7 average target is 52.17% above today’s ($4.6) stock price. Resolute Forest Products has been the topic of 5 analyst reports since October 21, 2015 according to StockzIntelligence Inc. The firm has “Reduce” rating by TD Securities given on Friday, April 1. On Friday, February 5 the stock rating was upgraded by RBC Capital Markets to “Outperform”. On Thursday, February 18 the stock rating was downgraded by Dundee Securities to “Neutral”. The firm earned “Sector Perform” rating on Monday, April 25 by RBC Capital Markets.

According to Zacks Investment Research, “Resolute Forest Products Inc. manufactures a diverse range of forest products including newsprint, commercial printing papers, market pulp and wood products. The Company owns or operates pulp and paper mills, wood products facilities located primarily in the United States, Canada and South Korea. It also sells pulpwood, saw timber, wood chips and recycles newspapers and magazines. Resolute Forest Products Inc., formerly known as, AbitibiBowater Inc., is headquartered in Montreal, Canada.”

More notable recent Resolute Forest Products Inc (NYSE:RFP) news were published by: Fool.com which released: “What Does the Canadian Warren Buffett See in Resolute Forest Products?” on June 23, 2016, also Business.Financialpost.com with their article: “Court dismisses ‘vexatious’ allegations by Resolute Forest Products against …” published on September 02, 2016, Seekingalpha.com published: “What’s Wrong With Resolute Forest Products” on August 09, 2016. More interesting news about Resolute Forest Products Inc (NYSE:RFP) were released by: Seekingalpha.com and their article: “Resolute Forest Products Is A Sleeping Giant” published on April 16, 2016 as well as Moodys.com‘s news article titled: “Moody’s downgrades Resolute’s bond rating to B1; raises liquidity to SGL-1” with publication date: September 08, 2016.

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