Deutsche upgrades Packaging Corp. to Buy on ‘positive inflection’

Deutsche Bank upgraded Packaging Corp. (PKG) to Buy from Hold with a price target of $256, up from $225. The firm believes the company is at a “positive inflection point” following the Q1 report. Packaging Corp.’s per-day shipment growth is “significantly outpacing” the broader market, the analyst tells investors in a research note. Deutsche says the combination of accelerating demand, operational strength, and a successful integration of the Greif acquisition “presents an attractive investment opportunity” in the stock.