As previously reported, Wells Fargo analyst Gabe Hajde downgraded Packaging Corp. (PKG) to Equal Weight from Overweight with a price target of $180, down from $205. Following another month of the firm’s CPB being in “Cautious” territory and an expectation for lower demand to crack pricing by mid-2025, Wells has grown incrementally more negative on its cboard names. Though the firm continues to view Packaging Corp.as a best-in-breed, it expects both downward revisions to estimates and multiple pressure owing to worsening industry fundamentals.
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Read More on PKG:
- Packaging Corp. downgraded to Equal Weight from Overweight at Wells Fargo
- Packaging Corporation of America Reports Strong Q1 2025 Results
- PCA Reports Record Earnings Amid Economic Challenges
- Packaging Corp. reports Q1 EPS ex-items $2.31, consensus $2.21
- Packaging Corp. sees Q2 EPS $2.41, consensus $2.65