NCB Stockbrokers is recommending the Jefferson Smurfit Group as a buy for investors at the current share price of around #2.02. The brokers pointed out that the group's full year results were ahead of expectations. But it has now lowered its earning forecasts for 2001 to reflect higher energy costs, limited price slippage in Europe and a sharper decline in the US. The shares traded higher on the back of the latest set of results, despite this cautious outlook. NCB says that the market outlook is uncertain at the moment. However it notes that previous cycles have shown the US sector's ability to anticipate economic developments. Stock prices started to decline from early 2000 and the sector can be similarly expected to move in advance of an economic upturn, and it is on this basis NCB believes investors should buy the shares.