Raymond James analyst Matt Roberts raised the firm’s price target on Graphic Packaging to $35 from $32 and keeps an Outperform rating on the shares. Raymond James expects a more durable margin and earnings profile driven by “sustainable” growth from innovative products and a portfolio realignment towards less cyclical and complimentary consumer demand. The 2H24 step-up in EBITDA appears mostly controllable due to lower planned maintenance and re-optimization of its mill network with 2024E margins still anticipated to be 19%-20% despite Price headwinds, the analyst tells investors in a research note.
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Read More on GPK:
- Graphic Packaging sees FY24 adjusted EBITDA margins in 19%-20% range
- Graphic Packaging Holding Company Reports Second Quarter 2024 Financial Results
- Graphic Packaging backs FY24 adjusted EPS view $2.65-$2.85, consensus $2.67
- Graphic Packaging reports Q2 adjusted EPS 60c, consensus 57c
- GPK Upcoming Earnings Report: What to Expect?
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