Resolute Forest Products Downgraded to Sector Perform 
<p>RBC Capital downgraded <a href='https://financialmodelingprep.com/financial-summary/RFP'>Resolute Forest Products Inc. (NYSE:RFP)</a> to Sector Perform from Outperform with a price target of $23.</p>
<p>While the analysts continue to see value in the Contingent Value Right (CVR) that will entitle the holder to a share of future softwood lumber duty deposit refunds, they believe there are better opportunities in their coverage group given: (1) limited visibility to the timeline for refunds actually occurring, and (2) Resolute's stock is now trading above the cash consideration of $20.50 per share offered by Paper Excellence. </p>
<p>The analysts updated their estimates, now expecting 2022, 2023 and 2024 EBITDA estimates to be $644 million, $466 million, and $468 million, respectively.</p>

NYSE:RFP