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UPDATE: J.P. Morgan Downgrades Rock-Tenn Company to Neutral, Lowers PT

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UPDATE: Credit Suisse Reiterates On Rock-Tenn Company On End To Underperformance

In a report published Monday, J.P. Morgan & Co. downgraded its rating on Rock-Tenn Company (NYSE: RKT) from Overweight to Neutral, and lowered its price target from $90.00 to $79.00.

J.P. Morgan noted, “RKT completed its transformational acquisition of Smurfit-Stone in May 2011, around which it is in the process of realizing synergies and performance improvements. The company has seen some bumps in the road with the execution of these objectives, though it appears that the Hodge project is turning a corner. That said, execution on future performance improvement projects, like Hopewell, remain a “show me,” in our view. RKT is the most levered stock to potential containerboard price increases in our group, though with the impact of the most recent price increase mostly reflected in the stock and our view that it could be some time before we see another price increase attempt, upside catalysts appear limited for now.”

Rock-Tenn Company closed on Friday at $67.49.

Latest Ratings for RKT

DateFirmActionFromTo
Dec 2014Bank of AmericaMaintainsBuy
Nov 2014CitigroupMaintainsBuy
Nov 2014Credit SuisseMaintainsOutperform

View More Analyst Ratings for RKT
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Downgrades Analyst Ratings

 

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