Berenberg Bank Initiates Coverage on DS Smith (SMDS)
Equities research analysts at Berenberg Bank started coverage on shares of DS Smith (LON:SMDS) in a research note issued to investors on Friday, AmericanBankingNews.com reports. The firm set a “buy” rating and a GBX 400 ($6.59) price target on the stock. Berenberg Bank’s price objective suggests a potential upside of 19.83% from the company’s current price.
DS Smith (LON:SMDS) traded up 3.39% during mid-day trading on Friday, hitting GBX 345.10. 2,796,946 shares of the company’s stock traded hands. DS Smith has a 1-year low of GBX 206.70 and a 1-year high of GBX 342.20. The stock has a 50-day moving average of GBX 322.9 and a 200-day moving average of GBX 287.4. The company’s market cap is £3.210 billion.
The company also recently announced a dividend, which is scheduled for Thursday, May 1st. Shareholders of record on Wednesday, April 2nd will be paid a dividend of GBX 3.20 ($0.05) per share. This represents a dividend yield of 0.96%. The ex-dividend date is Wednesday, April 2nd.
SMDS has been the subject of a number of other recent research reports. Analysts at Investec reiterated a “buy” rating on shares of DS Smith in a research note to investors on Thursday, January 9th. They now have a GBX 400 ($6.59) price target on the stock, up previously from GBX 350 ($5.77). Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of DS Smith from GBX 332 ($5.47) to GBX 335 ($5.52) in a research note to investors on Wednesday, December 18th. They now have a “neutral” rating on the stock. Finally, analysts at Bank of America Corp. downgraded shares of DS Smith to a “neutral” rating in a research note to investors on Wednesday, December 18th. They now have a GBX 340 ($5.60) price target on the stock, up previously from GBX 320 ($5.27). One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. DS Smith presently has a consensus rating of “Buy” and a consensus target price of GBX 326.91 ($5.39).
DS Smith Plc is a holding company engaged in the supply of recycled packaging for consumer goods and the wholesaling of office products.
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