Wells Fargo raised the firm’s price target on Packaging Corp. (PKG) to $222 from $200 and keeps an Equal Weight rating on the shares. The firm sees continued risk/reward balance with Packaging Corp. shares as its peer group premium fairly bakes in its best-in-class margin/balance sheet and limited Europe exposure. Wells notes that Cboard producers have responded to sluggish demand fundamentals by removing excess capacity, serving to hold pricing flat for seven months. The firm’s revised expectation is that a $50-$70/ton price increase is announced following Q3/25 reporting for Jan 1, 2026 implementation.
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