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Mar 10 2023, 06:50 GMT
DS Smith
Subdued demand but improving margins
- Sectors : Paper & Packaging
- Companies : DS Smith
DAVY VIEW
DS Smith’s Q3 update indicates (1) subdued box demand but (2) resilient box prices, with (3) easing raw material costs leading to (4) improving DS Smith profit margins. We expect easing Q2 2023 packaging de-stocking with stabilising containerboard prices, leading to DS Smith and packaging peers re-rating from current depressed valuations.
