Stora Enso initiated with an Outperform at Exane BNP Paribas

Exane BNP Paribas initiated coverage of Stora Enso with an Outperform rating and EUR 13.40 price target. The paper and packaging sector faces softer demand and prices just as industrial capacity rises and wood supply stays tight, the analyst tells investors in a research note. The firm believes 2023 is a "year for stock-pickers."