Graphic Packaging downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital analyst Arun Viswanathan downgraded Graphic Packaging (GPK) to Sector Perform from Outperform with a price target of $21, down from $25. The firm says bleached paperboard oversupply limits the company’s ability to raise prices. In addition, inflation presents challenges the company’s volumes, the analyst tells investors in a research note. RBC awaits lower inflation, more promotion, and stronger volumes to get more constructive on the shares.