BofA analyst George Staphos moves to No Rating on Pactiv given the stock is no longer trading on fundamentals following Apollo-owned Novolex having announced that the two packaging companies will combine with Pactiv shareholders receiving $18 per share in cash. The firm believes the stock is no longer trading on the basis of fundamentals, the analyst tells investors.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PTVE:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue