DOMTAR (UFS $68.40 rated Neutral from Overweight with $74 down from $94 price target) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT DUE FASTER THAN EXPECTED END MARKET DECAY AND BETTER ALTERNATIVES. REMOVAL OF 2014-2016 SHARE REPURCHASES HURTS NPV AND EPS ESTIMATES. 4/25/2013

DOMTAR (UFS $68.40 rated Neutral from Overweight with $74 down from $94 price
target) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT DUE FASTER THAN
EXPECTED END MARKET DECAY AND BETTER ALTERNATIVES. REMOVAL
OF 2014-2016 SHARE REPURCHASES HURTS NPV AND EPS ESTIMATES. 4/25/2013

﻿DOMTAR (UFS $68.40 rated Neutral from Overweight with $74 down from $94 price target) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT DUE FASTER THAN EXPECTED END MARKET DECAY AND BETTER ALTERNATIVES. REMOVAL OF 2014-2016 SHARE REPURCHASES HURTS NPV AND EPS ESTIMATES. 4/25/2013

DOMTAR (UFS $68.40 rated Neutral from Overweight with $74 down from $94 price target) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT DUE FASTER THAN EXPECTED END MARKET DECAY AND BETTER ALTERNATIVES. REMOVAL OF 2014-2016 SHARE REPURCHASES HURTS NPV AND EPS ESTIMATES. 4/25/2013