Smurfit Kappa Group

Reiterate ‘Outperform’ ahead of February 8th results

  • Sectors : Paper & Packaging
  • Companies : Smurfit Kappa Group

Ratings and price correct at time of issue.

  • Smurfit Kappa Group

    Closing Price: 3904c

  • RATING 30/06/09

  • PREVIOUS RATING N/A

DAVY VIEW

European packaging leader Smurfit Kappa Group (SKG) has de-rated on fears regarding box demand and pricing. With easing energy and OCC raw material headwinds, we believe SKG guidance of “EBITDA of c.€2.3bn for the full year 2022” is well underpinned. We re-affirm SKG as our top packaging sector pick ahead of its 2022E earnings on February 8th.

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Jan 23 2023, 16:35 GMT

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