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October 1, 2009
Dear friend,
Attached you will find our Domtar note. We
increased our price target from $42 to $47 due to a number of possible
developments including: potential for share repurchases, lower credit
default risk, improved earnings outlook, accelerated debt repayment
etc. We continue to maintain an overweight rating.
Faithfully,
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Copyright © 2008 John Tumazos Very Independent Research,
LLC
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