JPMorgan initiated coverage of Packaging Corp. (PKG) with an Overweight rating and $242 price target Packaging is the third largest corrugated container and box producer in the U.S. but is widely regarded as the market leader on virtually every metric, the analyst tells investors in a research note. The firm believes the U.S. market is undergoing a structural supply-side shift, which more than compensates for demand concerns. It finds Packaging Corp. “uniquely” positioned to benefit from these dynamics and believes the stock’s valuation looks attractive.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PKG:
- Packaging Corp. price target raised to $262 from $238 at Truist
- Packaging Corporation Completes Acquisition of Greif’s Business
- Greif reports Q3 adjusted EPS $1.03 vs. 92c last year
- Packaging Corp. price target raised to $240 from $222 at BofA
- Early notable gainers among liquid option names on August 21st