RBC Capital raised the firm’s price target on Graphic Packaging (GPK) to $16 from $15 and keeps a Sector Perform rating on the shares as part of a Q4 earnings preview in Packaging. The firm’s recent conversations with Investor Relations teams suggest that volumes remain soft, with strong Energy/Unflavored Sparkling Water offsetting weak Beer and flattish Food, while Europe continues to be a growth engine for beverage packaging manufacturers, the analyst tells investors in a research note.
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