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May 8 2024, 07:00 IST/BST
Paper & Packaging
Packaging pricing power
- Sectors : Paper & Packaging
- Companies : Stora Enso | SCA | Mondi | UPM | Huhtamaki | DS Smith | Smurfit Kappa Group
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| DS Smith | NEUTRAL | 08/05/24 | Outperform | 23/01/23 | 358p |
| Huhtamaki | OUTPERFORM | 04/10/23 | Neutral | 03/04/23 | 3700c |
| Mondi | OUTPERFORM | 08/05/24 | Neutral | 05/05/20 | 1563.0p |
| SCA | OUTPERFORM | 04/10/23 | Neutral | 03/04/23 | 16515 |
| Smurfit Kappa Group | OUTPERFORM | 30/06/09 | N/A | N/A | 4380c |
| Stora Enso | NEUTRAL | 24/07/23 | Outperform | 10/05/23 | 1299c |
| UPM | OUTPERFORM | 03/04/23 | N/A | N/A | 3412c |
DAVY VIEW
Following 2022/23 declines, Q1 2024 saw US and European box demand return to growth - supporting containerboard increases and higher box prices from mid-2024. Our updated packaging order of preference is: (1) Smurfit Kappa Group, (2) Mondi (upgrade to ‘Outperform’) and (3) DS Smith (downgrade to ‘Neutral’).
