Magnera slides after Wells Fargo downgrades to 'equal weight' rating

Magnera

14/05/2025 18:10

** Shares of papers manufacturer Magnera Corporation MAGN.N fall ~5.6% to $14.2

** Wells Fargo downgrades MAGN to "equal weight" from "overweight" rating, citing elevated tariff-related risk in the foreseeable future

** Brokerage expects MAGN's volumes to likely decline year-over-year, as low consumer sentiment is expected to drive reduced consumption

** Brokerage cuts PT to $16 from $22, which still represents a ~6.3% upside to the stock's last close

** Including session's moves, stock down ~21.6% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)

 ((Prakhar.srivastava2@thomsonreuters.com))