UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Graphic Packaging Holding Company on Good EBITDA Runway

In a report published Friday, Jefferies reiterated its Buy rating on Graphic Packaging Holding Company

, and slightly raised its price target from $8.00 to $8.50. Jefferies noted, “While FCF for 2013 is lighter than we anticipated, the EBITDA runway for 2013 and 2014 is more robust, and FCF should reaccelerate as capex returns to more normalized levels. We remain comfortable with our Buy, with mgmt executing well and deploying capital effectively with high return projects and buybacks.” Graphic Packaging Holding Company closed on Thursday at $7.15.