Packaging Corp. upgraded to Overweight from Equal Weight at Wells Fargo

Wells Fargo analyst Gabe Hajde upgraded Packaging Corp. (PKG) to Overweight from Equal Weight with a price target of $233, up from $222, citing an incremental positive view of cboard market. The firm says that while 2025 turned into a more challenging year than it originally expected, Wells is still waiting for a catalyst that will drive a rebound. K-shaped economy remains the firm’s top concern as low-end consumer health remains poor.