BBI cuts 2027 pulp EBITDA estimates 14%, downgrades Klabin, keeps Suzano as only Buy

BBI's analysis team lowered aggregated 2027 EBITDA estimates for the pulp sector by 14% due to a more cautious view on pulp prices, downgrading Klabin while maintaining Suzano as the sole Buy recommendation. The move signals a bearish outlook for pulp pricing, likely pressuring sector valuations. Uncertainty remains on the magnitude of price declines and the impact on individual producers' cost positions.