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STOCKS NEWS EUROPE-DS Smith falls on Goldman Sachs downgrade

Reuters - UK Focus

Feb 20 - Shares in DS Smith (LSE: SMDS.L - news) shed 3.8 percent, among top fallers in Britain's mid-cap FTSE 250 index, as Goldman Sachs (NYSE: GS-PB - news) downgrades the recycled packaging provider to "conviction sell" from "neutral" over valuation concerns.

"With packaging demand recovering and box pricing positive in the near term, earnings-based negative catalysts are unlikely," Goldman Sachs writes in a note to clients.

"Valuation is therefore the main driver of our sell rating in the near term, with concerns over packaging pricing becoming a supporting factor during 2014."

Reuters messaging rm://tasim.zahid.thomsonreuters.com@reuters.net