Veritiv price target lowered to $158 from $159 at BofA

BofA analyst George Staphos lowered the firm’s price target on Veritiv to $158 from $159 and keeps a Buy rating on the shares. The analyst says “destocking bad news” continues to hit the packaging, paper and forest product stocks, even one year after the retail inventory reduction trend and headlines that began in Q2 of 2022. However, wood/ and timber improved with the upward move in housing, the analyst tells investors in a research note.