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UPDATE: D.A. Davidson Downgrades Rock-Tenn Company As Shares Approach Target

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In a report published Tuesday, D.A. Davidson analyst Steven Chercover downgraded the rating on Rock-Tenn Company (NYSE: RKT) from Buy to Neutral, but reiterated the $65.00 price target.

In the report, D.A. Davidson noted, “We are downgrading RockTenn stock from Buy to NEUTRAL as the shares are within 5% of our $65 target and we lack a catalyst to raise the target at this juncture. RKT shares have appreciated 15% since our Q4-14 update was published on November 5th, at which point we introduced 2016 estimates. Our target represents just over a 6.5x multiple of 2016 EBITDA, which we believe is relatively fair value for a Consumer and Industrial Packaging company.”

Rock-Tenn Company closed on Monday at $62.10.

Latest Ratings for RKT

DateFirmActionFromTo
May 2015MaintainsOverweight
Feb 2015MaintainsOverweight
Feb 2015MaintainsBuy

View More Analyst Ratings for RKT
View the Latest Analyst Ratings

Posted-In: D.A. Davidson Steven ChercoverAnalyst Color Downgrades Analyst Ratings

 

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