Smurfit Kappa Group

Upgrading forecasts by 8% for FY 2018; increasing price target to 4200c

  • Jun 6 2018, 07:00 IST/BST
  • Barry Dixon
  • Company Report
  • 10 page(s)
  • Sectors : Paper & Packaging
  • Companies : Smurfit Kappa Group

Ratings and price correct at time of issue.

  • Smurfit Kappa Group

    Closing Price: 3324c

  • RATING 30/06/09

  • PREVIOUS RATING N/A

DAVY VIEW

The fundamentals of the European packaging sector are in excellent shape. Smurfit Kappa Group (SKG) is the leading player in this market and therefore the most exposed to the positive dynamics. This, combined with the deep intrinsic value of its assets, points to significant hidden value and upside in the share price. We are increasing our price target to 4200c, 26% above current levels. It is little wonder therefore that SKG’s Board rejected the proposal from International Paper.

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Jun 6 2018, 07:00 IST/BST

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