Truist raised the firm’s price target on Graphic Packaging to $35 from $33 and keeps a Buy rating on the shares. The company missed on Q2 sales which were further impacted by the Augusta divestiture and lower SBS sales of $83M and its EBITDA declined by $47M due to the Augusta divestiture and related lower SBS sales, but its strong net performance fully offset the price headwind and modest cost inflation during the quarter, the analyst tells investors in a research note. Graphic Packaging net performance is running above the company’s normal historical target of $80M-100M, the firm added.
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Read More on GPK:
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- Graphic Packaging Holding Company Reports Second Quarter 2024 Financial Results
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