Packaging Corp. price target raised to $245 from $226 at Wells Fargo

Wells Fargo analyst Gabe Hajde raised the firm’s price target on Packaging Corp. (PKG) to $245 from $226 and keeps an Overweight rating on the shares. While the Q1 bar was not particularly high, the company cleared a hurdle by demonstrating its operating excellence in the face of choppy macro, the firm says. Packaging Corp. also affirmed better-than-expected demand continued into early Q2.