Packaging Corp. price target raised to $245 from $238 at JPMorgan

JPMorgan raised the firm’s price target on Packaging Corp. (PKG) to $245 from $238 and keeps an Overweight rating on the shares. The firm says that with excess supply “looming in almost every market across almost every product grade,” it expects 2026 to be a tough year for paper and packaging. However, the U.S. corrugated packaging market is facing a structural rationalization of capacity which should support prices through 2026, the analyst tells investors in a research note.