** 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))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.