Sappi initiated with a Buy at Stifel

Stifel analyst Lars Kjellberg initiated coverage of Sappi with a Buy rating and ZAR 77.66 price target. The analyst started coverage of the global pulp, paper and packaging sector with fifteen companies. The firm’s positive view on the sector, which includes nine Buys and six Holds, stems from its expectations of a marked recovery in apparent demand, following 12-18 months of destocking weighing on industry performance. The highest ranked companies by Stifel are found in downstream converting and integrated packaging companies, the analyst tells investors in a research note.