Jefferies Group Downgrades Smurfit Kappa Group Plc (SKG) to Hold
Smurfit Kappa Group Plc (LON:SKG) was downgraded by investment analysts at Jefferies Group from a “buy” rating to a “hold” rating in a report issued on Tuesday. They currently have a GBX 1,915 ($25.00) price objective on the stock, down from their prior price objective of GBX 2,350 ($30.67). Jefferies Group’s price objective would indicate a potential upside of 11.01% from the company’s previous close.
Several other equities analysts also recently commented on the stock. Deutsche Bank AG reissued a “buy” rating and issued a GBX 2,160 ($28.19) price objective on shares of Smurfit Kappa Group Plc in a research note on Friday, August 26th. Goldman Sachs Group Inc. reissued a “conviction-buy” rating on shares of Smurfit Kappa Group Plc in a research note on Friday, September 2nd.
Smurfit Kappa Group Plc (LON:SKG) opened at 1725.00 on Tuesday. The stock has a 50 day moving average of GBX 1,862.89 and a 200 day moving average of GBX 1,814.23. Smurfit Kappa Group Plc has a one year low of GBX 1,503.93 and a one year high of GBX 2,650.00. The firm’s market cap is GBX 4.04 billion.
About Smurfit Kappa Group Plc
Smurfit Kappa Group plc and its subsidiaries are engaged in the manufacture of paper-based packaging products, with operations in Europe, Latin America, the United States and Canada. The Company manufactures, distributes and sells containerboard, corrugated containers and other paper-based packaging products, such as solidboard, graphic board and bag-in-box.
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