Smurfit Westrock initiated with a Buy at Citi

Citi analyst Anthony Pettinari initiated coverage of Smurfit Westrock (SW) with a Buy rating and $57 price target The firm views WestRock as a compelling “fixer upper” for Smurfit management. The firm sees a positive a containerboard pricing cycle driving earnings revisions higher and likes the company’s “self-help potential” with WestRock given Smurfit’s focus on forward integration, price over volume, and its proven track record improving underperforming assets in Europe.