Truist raised the firm’s price target on Packaging Corp. (PKG) to $252 from $242 and keeps a Buy rating on the shares. The company delivered solid results again this quarter, due in part to better volumes, strong execution, and continuous improvement and operational excellence utilizing technology, local operations, and engineers, the analyst tells investors in a research note. Demand was stronger than expected and momentum has continued into Q4, with bookings and billings up a little over 8% y/y per day thus far in October, the firm added.
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Read More on PKG:
- Packaging Corp. price target raised to $253 from $235 at Wells Fargo
- Early notable gainers among liquid option names on October 23rd
- Packaging Corp. up 2% afterhours at $222 after Q3 earnings beat
- Packaging Corp. reports Q3 EPS $2.65, consensus $2.50
- Packaging Corp. sees Q4 EPS $2.47, consensus $2.46