BofA starts Karat Packaging with a Neutral

As previously reported, BofA initiated coverage of Karat Packaging (KRT) with a Neutral rating and $28 price target Volumes remain “solid” and the firm sees other positives, but Karat is in a competitive sector with macro risks, the analyst tells investors. While the firm likes Karat’s approach as it has transitioned to focusing on distribution from growing manufacturing, it views the shares as fairly valued.