UPDATE: Jefferies Raises PT on Packaging Corp. of America Following 2Q13 Recap
In a report published Thursday, Jefferies analyst Philip Ng reiterated a Hold rating on Packaging Corp. of America (NYSE: PKG), and raised the price target from $48.00 to $49.00.
In the report, Jefferies noted, “We are encouraged PKG continues to see strong demand in July and has realized the full box price increase already. That said, with the stock trading at a 20%+ premium to IP and RKT, absent a price increase in 2014, we believe the stock is fairly valued.”
Packaging Corp. of America closed on Wednesday at $51.49.
Latest Ratings for PKG
Date | Firm | Action | From | To |
---|---|---|---|---|
Feb 2021 | Morgan Stanley | Maintains | Equal-Weight | |
Jan 2021 | UBS | Initiates Coverage On | Sell | |
Jan 2021 | Morgan Stanley | Maintains | Equal-Weight |
View More Analyst Ratings for PKG
View the Latest Analyst Ratings
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Jefferies Philip NgAnalyst Color Price Target Analyst Ratings