STK [BUY +20.2%] - Competitive landscape changes in favor of STK - Update

We upgrade our rating from OUTPERFORM to BUY as STK is set to benefit from (1) Vietnam’s recent antidumping tariffs on imported polyester filament yarn (PFY) and (2) China losing its access to the EU’s Generalized Scheme of Preferences (GSP) — a favorable trade tariff program for developing countries.

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