BofA Downgrades WestRock, Cuts Price Target By 5%

by Shivani Kumaresan, Benzinga Staff Writer

January 20, 2022 7:59 AM | 1 min read | Make a Comment

BofA analyst George Staphos downgraded WestRock Co WRK to Neutral from Buy with a price target of $57, down from $60.
The analyst noted containerboard business still has merits, and despite some recent deceleration, his survey data remained positive in the first half of 2021.
Staphos noted the early response from his latest survey suggests "further deceleration," and he is no longer projecting a fourth price hike in his assumptions.
Price Action: WRK shares are trading lower by 2.68% at $45.03 in premarket on the last check Thursday.