Research
The content listed is not for investment, financial, accounting or tax advice and is provided for informational purposes only.
Sappi Ltd: Upgrade to Overweight
Key message: Upgrade to Overweight driven by DWP price recovery underway, Packaging and Specialties volume ramp-up and improving Graphic Paper fundamentals
Restricted content
Restricted content
Sasol: Trading statement – Positive surprise – but not as clear cut
Sasol issued a positive looking trading statement but under the hood the numbers are not that good
Sasol: Spotlight on earnings – latest profit drivers
We show Sasol’s key profit drivers as well as the earnings for the current and next financial years if drivers remained at spot levels until the end of FY22
Restricted content
Forestry & Paper Weekly Price Update
Key message: Pulp set to increase in most regions. US CFS producers target a 2-5% price increase and further OCC hikes.
F&P: Navigator Q4 20A UWF Insights
Key message: UWF outlook encouraging. Price inflation in domestic and export markets. Order books are in line with last year and paper stocks in the distribution chain are relatively low.
Cashbuild
Key message: DIY products have experienced a remarkable uplift over the last six months, with activity levels holding up strongly over December.
Forestry & Paper Textiles Fibre Weekly Update
Key message: DWP prices playing catch-up to VSF, up 8% w/w, with further gains in sight. VSF stocks extremely tight at 9 days now.