Wells Fargo upgrades Graphic Packaging to Equal Weight, raises target to $27

As previously reported, Wells Fargo upgraded Graphic Packaging (GPK) to Equal Weight from Underweight with a price target of $27, up from $24. Global boxboard fundamentals remain challenged, though the firm believes downside is limited and sees Graphic Packaging remaining an advantaged supplier for CPGs. Wells believes the company is ably navigating pressured boxboard fundamentals.