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Article: Nordea keeps "underweight" on Nordic paper and packaging sector.
- Article from:
- ADP News Nordic
- Article date:
- September 1, 2009
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(ADPnews) - Sep 1, 2009 - Nordea reiterated on Tuesday its "underweight" rating on the Nordic paper and packaging sector as it sees tough price negotiations for 2010.
The broker's preferred sector players are Finnish Ahlstrom Corporation (HEL:AHL1V) and M-real Oyj (HEL:MRLBV), and Swedish Svenska Cellulosa AB (STO:SCA B).
Nordea downgraded its rating on Swedish Holmen AB (STO:HOLM B) to "hold" due to expected pressure on newsprint prices in 2010. The share price target was cut to SEK 220 from SEK 230.
The broker also downgraded Norwegian Norske Skogindustrier ASA (OSL:NSG), or Norske Skog, to "sell" from "hold", but maintained the target at NOK ...