UPDATE: D.A. Davidson Upgrades Packaging Corporation Of America On In-Line Q4

In a report published Wednesday, D.A. Davidson analyst Steven Chercover upgraded the rating on

from Neutral to Buy, and raised the price target from $83.00 to $90.00. In the report, D.A. Davidson noted, “Packaging Corp. reported Q4-14 operating earnings of $1.16, compared to operating earnings of $1.05 (restated) and $1.26 on the same basis last year and last quarter. respectively. On a GAAP basis, PKG earned $1.00 (including $0.16 in integration and restructuring charges), as compared to GAAP earnings of $2.34 (restated) and $1.06 in Q4-13 and Q3-14, respectively. As the caption suggests, the operating number was in line with our estimate and management guidance from Q3. Unfortunately (depending on one's perspective), the guidance for the current quarter was well below consensus, thus providing an opportunity to revisit the stock.” Packaging Corporation of America closed on Tuesday at $76.33.