BUZZ-JPM sees tough 2026 for paper firms

Reuters12-05

BUZZ-<a href="https://laohu8.com/S/JPM">JPM</a> sees tough 2026 for paper firms

** J.P. Morgan forecasts a tough 2026 for the EMEA paper and packaging sector, citing looming excess supply that prompts a highly selective stock-picking approach

** The brokerage expects global oversupply to pressure cartonboard prices, while EU containerboard and global pulp prices will likely hover around cost support levels for 2026

** Reflecting this cautious view, JPM downgrades Swedish forest products firm SCA SCAa.ST to "neutral" from "overweight" due to declining wood fibre prices

** The broker also keeps "underweight" ratings on Holmen HOLMb.ST and UPM UPM.HE, citing Holmen's unfavourable product mix and a deteriorating post-2027 pulp outlook for UPM

** However, the broker highlights the U.S. corrugated market as "a place to hide, and eventually thrive" thanks to disciplined supply and stable pricing prospects

** Consequently, JPM reiterates its "overweight" ratings on US-exposed firms Smurfit WestRock SWR.L and Packaging Corp of America PKG.N as its top ideas for 2026

(Reporting by Marta Frackowiak)

((marta.frackowiak@thomsonreuters.com))

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Morgan forecasts a tough 2026 for the EMEA paper and packaging sector, citing looming excess supply that prompts a highly selective stock-picking approach</p><p>** The brokerage expects global oversupply to pressure cartonboard prices, while EU containerboard and global pulp prices will likely hover around cost support levels for 2026</p><p>** Reflecting this cautious view, JPM downgrades Swedish forest products firm SCA <span>SCAa.ST</span> to \"neutral\" from \"overweight\" due to declining wood fibre prices</p><p>** The broker also keeps \"underweight\" ratings on Holmen <span>HOLMb.ST</span> and UPM <span>UPM.HE</span>, citing Holmen's unfavourable product mix and a deteriorating post-2027 pulp outlook for UPM</p><p>** However, the broker highlights the U.S. corrugated market as \"a place to hide, and eventually thrive\" thanks to disciplined supply and stable pricing prospects</p><p>** Consequently, JPM reiterates its \"overweight\" ratings on US-exposed firms Smurfit WestRock <span>SWR.L</span> and Packaging Corp of America <span>PKG.N</span> as its top ideas for 2026</p><p>(Reporting by Marta Frackowiak)</p><p>((marta.frackowiak@thomsonreuters.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0997587240.USD","symbol_name":"FIDELITY EUROPEAN DIVIDEND MINCG \"A\" (USDHDG) DIST","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251205:nL8N3XB0ZE:1","article_id":"2589897827","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2589897827","pubTimestamp":1764939586,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-JPM sees tough 2026 for paper firms   ** J.P. 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Morgan forecasts a tough 2026 for the EMEA paper and packaging sector, citing looming excess supply that prompts a highly selective stock-picking approach** The brokerage expects global oversupply to pressure cartonboard prices, while EU containerboard and global pulp prices will likely hover around cost support levels for 2026** Reflecting this cautious view, JPM downgrades Swedish forest products firm SCA SCAa.ST to \"neutral\" from \"overweight\" due to declining wood fibre prices** The broker also keeps \"underweight\" ratings on Holmen HOLMb.ST and UPM UPM.HE, citing Holmen's unfavourable product mix and a deteriorating post-2027 pulp outlook for UPM** However, the broker highlights the U.S. corrugated market as \"a place to hide, and eventually thrive\" thanks to disciplined supply and stable pricing prospects** Consequently, JPM reiterates its \"overweight\" ratings on US-exposed firms Smurfit WestRock SWR.L and Packaging Corp of America PKG.N as its top ideas for 2026(Reporting by Marta Frackowiak)((marta.frackowiak@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2589897827","isCrawlerRequest":true}