J.P. Morgan Neutral On Graphic Packaging

J.P. Morgan Chase & Co. is out with a research report on Graphic Packaging (NYSE:

) and it has a Neutral rating and a $6.50 price target on shares. In a note to clients, J.P. Morgan Chase & Co. writes, "Against a tough macro backdrop of weaker demand and rising input costs, GPK put up solid 2Q results, helped by continued strong productivity. That said, we are tweaking down our forecasts based on continued inflation headwinds, which should be mostly recovered in 2012 by contractual pricing, as well as our more cautious macro view on the timing of a volume recovery. We remain Neutral." Shares of GPK closed at $4.95 yesterday.