BofA analyst George Staphos downgraded Graphic Packaging to Neutral from Buy with a price target of $29, down from $35. The firm is “restacking” its ratings in the packaging and paper products group heading into Q2 reports, noting that several of its changes attempt to prioritize to better valuations or financial positioning. For Graphic Packaging in particular, BofA notes that shares have performed well, but says that fundamental news “may be turning less positive.”
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Read More on GPK:
- Graphic Packaging price target lowered to $28 from $30 at Citi
- Graphic Packaging downgraded to Neutral from Buy at BofA
- Graphic Packaging downgraded to Hold from Buy at Deutsche Bank
- Graphic Packaging Holding Company to Host Second Quarter 2023 Earnings Conference Call on August 1
- Graphic Packaging Holding Company Declares Quarterly Dividend
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