Jefferies upgraded Smurfit Westrock (SW) to Buy from Hold with a price target of $55, up from $44. The firm We sees more upside from the company’s commercial initiatives, and now has more confidence under new leadership. Smurfit can narrow the gap in its returns and valuation over time relative to Packaging Corp. (PKG), the analyst tells investors in a research note. As Smurfit delivers on its synergy targets and continues to improve on its financial disclosures adapting to U.S. investors, the stock’s multiple should moving higher and reflect a much improved industry structure, contends Jefferies.
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