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Smurfit Kappa downgraded by Jefferies

27 September 2016 14:06

Jefferies International has cut its recommendation on Smurfit Kappa (LON:SKG) to 'hold' from 'buy', cutting its price target to 1,915 pence per share (from 2,350 pence).

The broker reckons the paper and packaging group is facing building headwinds including rising raw material prices, the unsuccessful September price hike and peer capacity additions which could impact pricing and returns.

At 2:06pm: (LON:SKG) Smurfit Kappa Group PLC share price was -88.5p at 1715.5p

Story provided by StockMarketWire.com

Related Company: SKG

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