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    Pallav Mittal

    Vice President and seasoned Equity Research Analyst at Barclays

    Pallav Mittal is a Vice President and seasoned Equity Research Analyst at Barclays in London, specializing in UK/EU small and mid-cap companies (SMID) as well as the global tobacco sector. He has covered a range of publicly-traded firms within these domains, providing in-depth analysis and actionable insights for institutional investors, though specific performance metrics or rankings are not publicly disclosed. With his career progressing to Vice President at Barclays, Mittal has established significant domain expertise, but detailed information about his tenure, previous experience, and professional regulatory credentials remains undisclosed in public sources. His analytical specialization and leadership in these focus areas underline his standing among equity research professionals.

    Pallav Mittal's questions to Smurfit Westrock (SW) leadership

    Pallav Mittal's questions to Smurfit Westrock (SW) leadership • Q1 2025

    Question

    Pallav Mittal asked if Smurfit Westrock is observing a shift in trade flows, with Chinese importers turning to Latin America, and how this might position the company. He also questioned the company's appetite for future M&A, asking if they would consider a major deal in a weak macro environment despite current leverage of 2.5x.

    Answer

    CEO Tony Smurfit stated that the company's primary focus is deleveraging the balance sheet towards a 2.0x target, ruling out any large, 'off the pitch' acquisitions for the foreseeable future. Regarding trade flows, he noted that Smurfit Westrock has minimal exposure to China but maintains strong, long-term customer relationships in Latin America, viewing the changing dynamics as a neutral-to-positive development for the company.

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