Mondi - Upgrading 2019 forecasts by 6% on pricing and M&A; price target increased to 2500p

Davy Research
/Read Important Disclosures

The latest upgrade to Mondi Group’s forecasts is unlikely to be the last. The demand environment is solid and positive pricing is driving higher margins. With supply constraints set to continue, further price increases and therefore earnings upgrades cannot be ruled out. In this environment, we think the share price will continue to make progress and we are increasing our price target to 2500p, 12% above current levels.