Pactiv Evergreen price target raised to $18 from $12 at Baird

Baird analyst Ghansham Panjabi raised the firm’s price target on Pactiv Evergreen (PTVE) to $18 from $12 and keeps a Neutral rating on the shares. The firm noted the $18 takeout price and reiterated their view that after a lull in activity, the Packaging industry is in the initial stages of a long-tailed consolidation cycle, which while thus far is in the plastics packaging substrate, is likely to be broad-based.