DS Smith

Subdued demand but improving margins

  • Sectors : Paper & Packaging
  • Companies : DS Smith

Ratings and price correct at time of issue.

  • DS Smith

    Closing Price: 327p

  • RATING 23/01/23

  • PREVIOUS RATING 03/04/19



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.

Download full report with analyst certification and important disclosures

Mar 10 2023, 06:50 GMT