Nordea reiterates its Buy rating on forestry products company UPM-Kymmene and raises its price target to EUR 31.5 from EUR 29.
The bank raises its forecasts for comparable EBIT by 2–3 percent for 2027 and 2028, driven by improved outlook for the energy business.
Nordea continues to see growth potential following the investments in Paso de los Toros and Leuna. The focus is expected to be on optimising investments and strengthening cash flow. At the same time, a normalisation of the pulp market and gradually improved demand could support pulp prices and earnings development.
