Smurfit Westrock (SW) Raises $1.3 Billion in Notes Amid Positive Analyst Outlook

Smurfit Westrock Plc (NYSE:SW) is one of the best falling stocks to buy, according to Wall Street analysts. Smurfit Westrock Plc (NYSE:SW) holds a Strong Buy consensus from 12 analysts, all issuing Buy ratings. The average price target is $53.61, with estimates ranging from $47 to $61, implying a 50.21% upside from the current $35.69.

Smurfit Westrock Plc (SW) Resorts to Debt Refinancing amid Positive Wall Street Ratings

On November 24, Smurfit Westrock Plc (NYSE:SW) subsidiaries completed $800 million in notes and €500 million in notes. One of the units issued $800 million in 5.185% senior notes due 2036, as the other issued €500 million in 3.489% senior notes due 2031. Smurfit WestRock is to use part of the net proceeds to redeem $500 million in 3.375% senior notes due 2027. Additionally, the net proceeds will be used to refinance €750 million in 1.500% senior notes due 2027.

The debt refinancing drive comes on the heels of Wall Street firms issuing positive ratings on the stock. On November 23, Seaport Global reiterated a Buy rating on the stock and set a $51 price target. On November 18, Bank of America Securities also reiterated a Buy rating on the stock and set a $57 price target.

Smurfit Westrock Plc (NYSE:SW) is a global leader in the creation and manufacturing of sustainable paper-based packaging solutions. The company designs, produces, and sells a wide range of products, including corrugated and consumer packaging, using renewable, recyclable, and recycled materials.

While we acknowledge the potential of Smurfit Westrock Plc (NYSE:SW) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SW and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.