ENCE Energia y Celulosa : Bankinter improves its target price for Ence to 5.63 €/share and reiterates its buy recommendation
October 17, 2017 at 07:46 am EDT
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October 17, 2017.- On October 13 Bankinter raised Ence's target price to € 5.63/share, 22% above the closing price on the same day, and reiterated its recommendation to Buy Ence shares based on an improvement in the outlook for eucalyptus pulp prices for the next three years.
This report follows the one published by Kepler Cheuvreux last October 6 in which it also improved its target price to 5 € /share and reiterated its Buy recommendation for the same reason.
The continued growth of demand for eucalyptus pulp, driven by the consumption of tissue paper in emerging countries, due to rapid urban growth and rising living standards in these countries and the absence of major projects to increase production capacity, points to a strong prices scenario for eucalyptus pulp for the next three years.
Ence Energía y Celulosa SA published this content on 17 October 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 October 2017 11:45:02 UTC.
Original documenthttps://www.ence.es/index.php/en/actualidad-2/640-bankinter-improves-its-target-price-for-ence-to-5-63-€-share-and-reiterates-its-buy-recommendation.html
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Ence Energia y Celulosa SA, formerly Grupo Empresarial ENCE SA, is a Spain-based company engaged in the operation of pulp mills. The Company' activities are divided into two business units: Pulp and Energy. The Pulp business unit is subdivided into three segments: Pulp, manufacturing pulp and pulp derivatives, such as lignin and biomass, as well as co-generating energy; Forest Management, providing forest crops and wood raw materials, and Forest Services & Other, including residual business activities, as well as forest support services. The Energy business unit focuses on generating energy using forestry and agricultural biomass, as well as, thermos and solar electric energy generation. The Company operates pulp mills and power generation plants in Spain.
ENCE ENERGÍA Y CELULOSA, S.A. 
