same goodbodies guy told me he is bullish on paddy power , i would not be overly optimistic on that company , its pricier than ryanair on a PE basis etc and had poor results two weeks ago or so , all the bookies in the uk are doing terrible at the moment
13 Sep '14
RE: price action
i own the stock , bought @ 17.55 a few weeks ago , own 150 shares or around 2500 worth also own a grands worth of independent news and media which i bought at 13 cents flat , now there is a stock which lacks liquidity
12 Sep '14
RE: price action
He is wrong. It had a bit of a glich this year because of the political situation in Venezuela. Still up 12% YTD so what he said makes no sence. My target for the next six months is €22 and a nice dividend. He mustn't read his own company notes either because both my previous posts are from goodbodys briefings. If you have the time do some figures on this and you might be surprised Bob.
12 Sep '14
i spoke to someone in goodbodys recently about smurfit kappa , they told me it lacks liquidity and that the price jumps around too much they were not overly enthusiastic about it as a buy
12 Sep '14
The latest pricing data for Europe shows price increases in both the major containerboard grades in Germany for September. Testliner prices increased by €30/tonne, which is consistent with moves seen in other European markets and compares to the €60-70/tonne target. Kraftliner prices have increased by €30/tonne (versus €50/tonne target) representing the first price rise since 2013, while OCC grades remained stable for the month. It is encouraging to see kraftliner grades now reflecting price increases along with testliner grades, which underpins box prices and provides a platform for further growth in 2015. Indeed, we believe the risks to testliner pricing remain on the upside following the unscheduled downtime of one of Europe's largest testliner machines which will tighten inventory levels at a seasonally busy stage of the year. Smurfit Kappa remains the best way to play these positive trends and offers compelling value at current levels with the stock trading at an unwarranted discount to peers.
11 Sep '14
Palm Group’s 650k tonne testliner mill in Germany has been out of production since August 26th following an electrical failure. Originally the stoppage was meant to last no longer than ten days however difficulty in sourcing spare parts means the mill will not restart production until September 22nd, which will bring the total stoppage to four weeks. The expected paper loss from this downtime is estimated to be 47k tonnes. While this seems like a small amount in a 20m tonne market we note that this represents almost 10% of the European industry’s total average inventory levels. We believe that this will lead to increased speculation on further testliner price increases in late September and October. Palm Group’s operational issues are positive for the overall European containerboard pricing backdrop given the likely pressure that it will put on the industry’s supply-demand balance. At the very least, it should support the €30/tonne testliner price increase already implemented and possibly lead to a push for further increases. We believe Smurfit Kappa is the most attractive way to play these positive price trends and reiterate our BUY recommendation.
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