Truist analyst Michael Roxland lowered the firm’s price target on Packaging Corp. (PKG) to $258 from $260 and keeps a Buy rating on the shares. Packaging Corp. reported Q1 operating EPS above the firm and Street’s forecasts, but guided Q2 EPS to $2.33, below the firm’s $2.50 and Street’s $2.49 estimates. This is due to maintenance costs and non-operational headwinds rather than underlying business weakness, the analyst explains.
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Read More on PKG:
- Packaging Corp. price target raised to $246 from $225 at JPMorgan
- Packaging Corp Earnings Call Balances Growth and Costs
- Packaging Corp. reports Q1 EPS ex-items $2.40, consensus $2.13
- Packaging Corp. sees Q2 EPS ex-items $2.33, consensus $2.49
- Packaging Corp. price target lowered to $260 from $267 at Truist