Truist raised the firm’s price target on Packaging Corp. to $242 from $219 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results for Packaging & Paper/Forest Products. The sector saw better containerboard demand and stable pricing, uneven boxboard demand and mixed pricing depending on substrate, and mixed wood products pricing, with single-family construction being in the early stages of a recovery, the analyst tells investors in a research note. Beverage can demand also remained steady with better growth out of Europe and South America, Truist added.
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Read More on PKG:
- Smurfit Westrock price target lowered to $51 from $52 at Jefferies
- Packaging Corp. price target raised to $235 from $215 at Wells Fargo
- Packaging Corp. price target raised to $221 from $199 at Citi
- Cascades price hikes positive for Packaging Corp., says Wells Fargo
- Truist says Cascades news positive for Packaging Corp., International Paper
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