(News Bulletin 247) – Credit Suisse maintains its ‘neutral’ rating on the Stora Enso share, with a price target lowered from 16 to 15.3 euros.
The analysts estimate that 2022 ended on a weak note, with a 17% decline in operational EBIT in the 4th quarter compared to the same period a year earlier, while 2022 operational EBIT fell yet increased by 24% compared to the previous year, to 1891 ME.
Accelerating cost inflation, a sharp decline in wood product prices and weaker demand explain the weak earnings growth.
In this context, Credit Suisse anticipates a decline in operating EBIT of 29% in 2023.
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