Truist analyst Michael Roxland lowered the firm’s price target on Packaging Corp. (PKG) to $265 from $282 after its Q4 earnings miss but keeps a Buy rating on the shares. The concerns with guidance and pricing are “overdone” as demand remains “strong”, and the firm recommends that investors add to positions on weakness, noting the company is a best-in-class operator in paper and packaging with leading ROIC and EBITDA margins, the analyst tells investors in a research note.
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