WestRock price target raised to $51 from $46 at Wells Fargo

Wells Fargo analyst Gabe Hajde raised the firm’s price target on WestRock (WRK) to $51 from $46 and keeps an Equal Weight rating on the shares. WestRock’s Q2 results were well above the firm’s estimates, reflecting transformation savings ahead of plan and rising export containerboard demand, the analyst tells investors in a research note. Wells feels Smurfit Kappa (SMFKY) is stepping into a solid setup with its mills running near full and WestRock tracking ahead on cost reductions.