Citi upgrades Mondi to 'buy'
Mondi
1,196.00p
15:45 22/11/24
2.40%
28.00p
Citi upgraded its stance on Mondi on Friday to ‘buy’ as it said that after a difficult couple of years, the market headwinds of destocking and lower pricing are reversing across the packaging company’s product segments (board, flexibles, paper).
FTSE 100
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15:45 22/11/24
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FTSE 350
4,551.10
15:45 22/11/24
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FTSE All-Share
4,506.61
15:45 22/11/24
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General Industrials
7,836.33
15:45 22/11/24
1.44%
111.05
"We see ‘normalised’ EBITDA of around €1.8bn in 2-3 years - achieving this at 8x EV/EBITDA (the multiple before the Russia-Ukraine conflict) would put the stock at circa £25/share in 3 years," it said.
At 1200 BST, the shares were up 1.2% at 1,594.50p.