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 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 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.

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This article is originally published at Insider Monkey.