In a report published Monday, Jefferies analyst Philip Ng reiterated a Buy rating on Graphic Packaging GPK, and raised the price target from $10.00 to $10.50.
In the report, Jefferies noted, “While shares have outperformed, GPK is still a fairly under the radar name and we believe the Street has overlooked the earnings leverage it has to the recent boxboard price increases. Further, with shares trading with a 13% FCF yield and on the cusp of returning cash to shareholders, we believe GPK is poised for a breakout 2014.”
Graphic Packaging closed on Friday at $8.50.
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