Source - SMW
Numis has moderated its recommendation on packaging firm DS Smith (LON:SMDS) by switching to 'hold' from 'add', following the company's AGM statement and given the level of implied share price upside.

Nevertheless, analysts have lifted their earnings per share estimates for 2017 and 2018 by 5.6% and 4.8%, respectively, after the company confirmed trading during the first 4 months of the financial year has been in-line with expectations, implying SMDS is executing well against its strategic objectives.

The broker also upped its target price to 460 pence a share (from 430 pence) to reflect the increase in its increased earnings forecasts.

At 2:45pm: (LON:SMDS) Smith DS PLC share price was +5.15p at 427.65p