UPDATE: Deutsche Bank Downgrades Glatfelter on Valuation

In a report published on Monday, Deutsche Bank analyst Mark Wilde downgraded Glatfelter (NYSE: GLT) from Buy to Hold and maintained a $26 price target.

In the report, Deutsche Bank stated, "Management continues to migrate GLT's business toward specialized engineered materials (based on both cellulose & synthetic fibers). Strong cash flow from the uncoated paper business provides cash to fund the transition. Over 50% of GLT's EBITDA is now derived from global platforms with strong growth prospects...We think expectations are quite strong and leave little room for error."

Glatfelter closed on Monday at $27.11.