Smurfit Westrock price target raised to $69 from $65 at JPMorgan

JPMorgan raised the firm’s price target on Smurfit Westrock (SW) to $69 from $65 and keeps an Overweight rating on the shares. The firm believes carton board prices will face headwinds in 2025 due to global over-supply and says European containerboard and global pulp prices will hover around cost support. On the positive side, U.S. containerboard markets are expected to move from balanced, to tight as the year progresses, the analyst tells investors in a research note. For the second year in a row, JPMorgan lists Smurfit WestRock as its top pick. It sees upside risk to already guided operational improvements and a “significant” pipeline of projects that can structurally improve the company’s margin profile.