UBS initiated coverage of Graphic Packaging (GPK) with a Neutral rating and $24 price target After a multiyear capex cycle, Graphic is pivoting to share repurchases, the analyst tells investors in a research note. However, on the fundamentals, the firm says the company is being impacted by volume declines at its Consumer Packaged Goods and Quick Service Restaurant customers. UBS views these “opposing factors” as netting out to 10% upside potential from current levels.
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