Citi reiterated Buy ratings on Smurfit Westrock (SW) and International Paper (IP) after Smurfit announce a $50/ton price hike for U.S. Containerboard beginning June 1. The announcement follows a $50/on net increase year-to-date, which the firm sees as partially offset by rising costs in energy, fiber, and chemicals, the analyst tells investors in a research note. The firm added that while it expects some skepticism towards the hike given sluggish underlying demand and significant pushback to the earlier Q1 hike, it takes the announcement as a positive.
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