Sharecast - It noted that DS Smith (LON:SMDS) is one the cheapest stocks in global packaging currently and said it expects a volume recovery to drive a multiple re-rating.
"We believe DS Smith should cut capex to maintenance capex levels and hope that DS Smith doesn't engage in expensive M&A and instead focuses on optimising its portfolio and operations," Barclays (LON:BARC) said.
At 0930 GMT, the shares were up 1.9% at 302.20p.