Jefferies analyst Philip Ng downgraded Packaging Corp. (PKG) to Hold from Buy with a price target of $205, down from $245. The firm still views Packaging Corp. as best in class, but sees the company’s competitive edge flattening and the stock limited by its premium valuation. Jefferies now sees more upside in shares of Smurfit Westrock (SW), a stock it upgraded this morning to Buy.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PKG:
- Smurfit Westrock upgraded to Buy from Hold at Jefferies
- Apple downgraded, Snowflake upgraded: Wall Street’s top analyst calls
- Packaging Corp. initiated with a Neutral at UBS
- Containerboard closures happening more quickly than expected, says BofA
- GP mill closure positive for containerboard names, says Truist