UPDATE: Jefferies Raises PT on Graphic Packaging Holding from $6.50 to $7.00

Jefferies reiterated a Buy rating on Graphic Packaging Holding GPK and raised its price target from $6.50 to $7.00. Jefferies noted, “While GPK has been the best performer in the sector, shares remain compelling with mgmt executing at a high level and benefiting from a defensive portfolio, coupled with a strong FCF profile. Additionally, with a few catalysts (dividend + improved float) likely on the horizon, we remain comfortable with our Buy rating and we are bumping our PT to $7.” Graphic Packaging Holding closed at $5.78 on Friday.