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SCA – Correcting Citi’s Homework

Author: Published on: Published in: Svenska Cellulosa STO:SCA-B

March 21, 2024 – Citi analysts have triple counted biological asset valuations in their financial model. A correction brings the price target from SEK 156 to SEK 95.

On 15 March 2024 we wrote to Citi analyst, Ephrem Ravi, to inform him of a material calculation error in his SCA financial model, which we have sighted. Viceroy’s team have subsequently tried to reach out to Citi and Mr. Ravi on numerous occasions without response in order to not have to air this dirty laundry.

A correction brings the price target from SEK 156 to SEK 95.

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