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Investing.com - Jefferies upgraded Svenska Cellulosa Aktiebolaget SCA (SCAB:SS) (OTC:SVCBF) from Hold to Buy and raised its price target to SEK151.00 from SEK142.00.
The upgrade comes as SCA trades near the bottom of its SEK120-170 range, with Jefferies citing forest value support and potential catalysts that could narrow the discount implied by peer STERV’s forest sale at 1x book value.
Jefferies noted that softwood pulp has bottomed out and is now better positioned compared to hardwood pulp, while virgin containerboard offers operational upside and improved dynamics versus recycled materials.
The firm also pointed to lumber’s potential recovery in 2026-27 when construction activity improves, adding to the company’s growth prospects.
Jefferies concluded that SCA’s sum-of-the-parts risk/reward profile is "skewed to the upside," supporting the more bullish stance on the Swedish forest products company.
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