Jefferies Reiterates Buy on Packaging Corp of America Following 3Q13 Recap
In a report published Wednesday, Jefferies analyst Philip Ng reiterated a Buy rating and $68.00 price target on Packaging Corp of America (NYSE: PKG).
In the report, Jefferies noted, “PKG continues to execute at a high level and volumes remain strong. The BZ transaction should close by October 25th, and based on the PF financials the company released today, the transaction is more accretive than we initially expected, driven by lower interest expense with the company refinancing Boise's high cost debt.”
Packaging Corp of America closed on Tuesday at $57.88.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.