MEADWESTVACO (MWV: $35.77, Rating cut to Underweight from Neutral with $30 up from $29 price target) HIGHER LONG TERM OPERATING MARGIN ESTIMATES IN THE INDUSTRIAL SEGMENT AND HIGHER PER ACRE LAND VALUE ESTIMATES ARE MORE THAN OFFSET BY HIGHER CAPEX, LAND SALES CASH FLOW, AND OTHER DEBT-LIKE LIABILITIES

MEADWESTVACO (MWV: $35.77, Rating cut to Underweight from Neutral with $30
up from $29 price target) HIGHER LONG TERM OPERATING MARGIN
ESTIMATES IN THE INDUSTRIAL SEGMENT AND HIGHER PER ACRE LAND
VALUE ESTIMATES ARE MORE THAN OFFSET BY HIGHER CAPEX, LAND
SALES CASH FLOW, AND OTHER DEBT-LIKE LIABILITIES 5/20/2013