UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Rock-Tenn Company
In a report published Monday, Jefferies & Company reiterated its Buy rating on Rock-Tenn Company (NYSE: RKT), but lowered its price target from $90.00 to $82.00.
Jefferies noted, “While the operational setbacks have been frustrating, we are hopeful now that the legacy RKT mgmt is entrenched in key leadership roles, it can restore credibility. With its FCF yield at 11%, downside is limited and it's one of the few companies that can double its earnings over the next two years.”
Rock-Tenn Company closed on Friday at $67.49.
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