UPDATE: Deutsche Bank Reiterates on Packaging Corp. of America Following FY13Q3 Containerboard Review
In a report published Friday, Deutsche Bank analyst Mark Wilde reiterated a Hold rating on Packaging Corp. of America (NYSE: PKG), and raised the price target from $52.00 to $60.00.
In the report, Deutsche Bank noted, “We offer a detailed look at financial performance in the containerboard sector. Our review also provides a detailed summary of key industry indicators such as volumes, inventories, costs and pricing. Q3 saw higher sales & margins, mostly from pass-thru of spring price hike. Over the next few months, risks appear skewed to the downside with seasonally slower demand and new supply hitting the mkt. In this report, we are also raising our PT on PKG from $52 to $60 to reflect accretion from the recent Boise acqn. We maintain Hold rating.”
Packaging Corp. of America closed on Thursday at $60.15.
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