Viljakainen has published a new company report on Huhtamäki. 
We reiterate our Add recommendation for Huhtamäki and adjust our target price for the company to EUR 41.00 (previously EUR 40.00). Huhtamäki’s Q4 report met our expectations. In our view, the company’s earnings growth outlook is quite good given the demand showing cautious signs of recovery and the efficiency measures largely implemented. We did not make significant forecast changes after the report. Huhtamäki’s annual earnings growth of just under 10% in the coming years and a dividend yield of approximately 3% still raise the stock’s return expectation above the required rate of return.