Packaging Corp. price target raised to $235 from $215 at Wells Fargo

Wells Fargo analyst Gabe Hajde raised the firm’s price target on Packaging Corp. to $235 from $215 and keeps an Overweight rating on the shares. The firm believes the cboard industry is still in the middle inning of the price upcycle, as Wells envisions another 1M-plus tonnes of capacity taken out in the next 12-24M.