Packaging Corp. price target raised to $221 from $199 at Citi

Citi raised the firm’s price target on Packaging Corp. to $221 from $199 and keeps a Neutral rating on the shares. The firm updated North America containers and packaging models ahead of the Q3 reports. The bar for Q3 could be a bit higher than Q1 and Q2, when the group delivered 90% beats and in-line results, as investors look for quarter-over-quarter volume acceleration on easier comps, the analyst tells investors in a research note. Heading into earnings, Citi prefers Crown Holdings (CCK), Silgan Holdings (SLGN) and Ardagh Metal Packaging (AMBP) citing their attractive valuations and 2025 earnings growth potential.