Packaging Corp. price target raised to $240 from $222 at BofA

BofA analyst George Staphos raised the firm’s price target on Packaging Corp. (PKG) to $240 from $222 and keeps a Buy rating on the shares. With significant capacity reductions by International Paper (IP) and others, Packaging Corp should benefit, says the analyst, who now has Buys across the analyst’s three covered containerboard companies.