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Jefferies Cuts His Advice on Ence to 'Keep' and Lowers His Rating
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"The dynamics of the cellulose market and the feeling of investors in the European Union (EU) are negative, with a delayed recovery due to demand, uncertainty in the exchange rate and trade," they add from the firm. In fact, Jefferies strategists have updated Ence's profit forecasts based on their revised downward scenario for cellulose prices and anti-exchange winds due to a weaker US dollar versus the euro.
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