Truist says Cascades news positive for Packaging Corp., International Paper

Truist analyst Michael Roxland notes that Fastmarkets RISI reported that Cascades (CADNF) announced a $40/ton linerboard, $70/ton medium, and $40/ton white top linerboard price increase effective October 7 in letters sent to customers on September 9. The firm believes the announcement is positive for Buy-rated Packaging Corporation of America (PKG), Buy-rated International Paper (IP), and Smurfit WestRock (SW), and supportive of current pricing. Both Packaging Corporation of America and International Paper are trading up about 2% and 3% to $213.96 and $50.02, respectively.