UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Packaging Corp. of America

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Packaging Corp. of America

, and slightly raised its price target from $38.00 to $39.00. Jefferies noted, “PKG is the best of breed in containerboard and we continue to see good momentum in the recent data points. However, with shares already trading with a fair valuation, we are more comfortable with a Hold rating.” Packaging Corp. of America closed on Tuesday at $36.26.