Truist raised the firm’s price target on Packaging Corp. (PKG) to $239 from $237 and keeps a Buy rating on the shares. The North American containerboard market has reached the “dawn of a golden age” spearheaded by balanced supply and demand, resulting from supply rationalization led by new and disciplined managements at International Paper (IP) and Smurfit WestRock (SW), the analyst tells investors in a research note. This could drive a structural shift in the industry, leading to sustainably higher pricing and greater profitability, Truist added.
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