Davy raises price target on Smurfit Kappa shares and forecasts profits of over €2bn

The stockbroker said it expects investor confidence to build in the Irish packaging giant this year as its merger with US rival Westrock inches closer

Smurfit Kappa, the Irish packaging giant, is valued at €9.4bn based on its current share price

Davy stockbrokers has raised its price target for shares in Smurfit Kappa, the Irish paper and packaging giant, to €50 per share, which implies an uplift of almost 40 per cent from the stock’s current level.

In a note to investors, Justin Jordon, an analyst at Davy, said he his forecasting Smurfit Kappa will report earnings (Ebitda) of around €2.06 billion next month when the company announces its full year results for 2023, which would ...