Barclays upgrades DS Smith to ‘overweight’
DS Smith Plc
540.00p
16:30 30/12/24
-1.01%
-5.50p
Barclays upgraded DS Smith on Monday to ‘overweight’ from ‘equalweight’ and lifted the price target to 360p from 310p.
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14,384.93
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-58.39
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It noted that DS Smith is one the cheapest stocks in global packaging currently and said it expects a volume recovery to drive a multiple re-rating.
"We believe DS Smith should cut capex to maintenance capex levels and hope that DS Smith doesn't engage in expensive M&A and instead focuses on optimising its portfolio and operations," Barclays said.
At 0930 GMT, the shares were up 1.9% at 302.20p.