UPDATE: BMO Capital Markets Upgrades MeadWestvaco to Outperform, Raises PT to $35

BMO Capital Markets raised its rating on MeadWestvaco

from Perform to Outperform and increased its price target to $35 from $33 to reflect an improved outlook. BMO says, “MeadWestvaco is completing its transformation to a customer-driven packaging company. The focus is on packaging for food, beverage, tobacco, beauty and personal care, and home and garden as well as containerboard at its Brazilian subsidiary, Rigesa. The revenue breakdown is 50% US, 22% non-US developed markets and 28% fast-growing emerging markets.” MWV closed at $27.85 per share on Wednesday.