Jefferies lowered the firm’s price target on Packaging Corp. (PKG) to $140 from $142 and keeps a Hold rating on the shares. While demand remains muted for the group, in-line to modest beats “should be enough for relief rallies,” the analyst tells investors in a Paper & Packaging Q3 earnings preview. Walmart (WMT) comments that the company has seen some impact from GLP-1 has led to the selloff in the sector, with Ball (BALL), Crown Holdings (CCK) and Berry Global (BERY) “particularly hard hit,” the analyst noted.
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Read More on PKG:
- Packaging Corp. price target raised to $161 from $158 at BofA
- Packaging Corp. price target raised to $150 from $148 at Citi
- Packaging Corp. upgraded to Hold from Underperform at Jefferies
- Packaging Corp. price target raised to $170 from $156 at Truist
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