Stora Enso upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded Stora Enso to Overweight from Neutral with a price target of EUR 12.60, down from EUR 13.30. The analyst continues to see downside risks into Q2 earnings, but now believes these risks are forming part of base case assumptions. Post Q2, the company’s pricing should be nearing a floor, the end of de-stocking should be in sight and operating leverage should start turning positive again, the analyst tells investors in a research note.