Research
The content listed is not for investment, financial, accounting or tax advice and is provided for informational purposes only.
Restricted content
Restricted content
Forestry & Paper: Industry Insights
Key message: Mixed moves for Paper pulp, while DP is stable. Graphic paper grades mostly hold steady. Containerboard prices further in the red, while OCC is stable. ICE Dutch TTF Gas Futures now drop further this week to €50/MWH.
Restricted content
Restricted content
Forestry & Paper: Industry Insights
Key message: Paper pulp prices under further pressure, while DP moves the other way, with spot now $900/t. Graphic paper grades mostly hold steady. Containerboard prices further in the red, while OCC has hit a floor. ICE Dutch TTF Gas Futures now €53/MWH.
Sappi remains undervalued despite ticking all the right boxes in 2022, but macro likely to see this persist
SAP’s valuation has dislocated from earnings and normalized earnings and remains undervalued.
Restricted content
Restricted content
Restricted content
Key message: It is unlikely that Eskom in its current form can be fixed (operationally and politically). Financial stress may accelerate unbundling and privatisation. Eskom’s late release of the FY22 Annual Report (YE Feb) has been overshadowed by ongoing Stage 6...