Citi upgrades Mondi to 'buy'
Mondi
1,495.00p
17:00 25/06/24
-0.66%
-10.00p
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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16:49 25/06/24
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FTSE 350
4,537.93
17:15 25/06/24
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FTSE All-Share
4,493.07
16:54 25/06/24
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General Industrials
7,010.50
16:39 25/06/24
-0.58%
-41.03
"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.