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Mondi: Credit Suisse upgrades to 'buy'

(CercleFinance.com) - Credit Suisse has upgraded its “neutral” rating on the Mondi share of the paper and packaging group - originally from South Africa - to “buy”.

Alongside this upgrade, the broker has raised its target price from 2,220 pence to 2,345 pence, which suggests upside potential of over 15% for this stock which is listed on the London Stock Exchange.

Analysts note that the Mondi share has been fairly flat over the past 12 months, while in their opinion, the group's earnings outlook and multiples have improved.

In particular, Credit Suisse distinguishes Mondi for its ROCE, which reached 19.7% in 2017, after 20.3% in 2016.

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