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.
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Read More on PTVE:
- BofA moves to No Rating on Pactiv Evergreen after Novolex deal
- Pactiv Evergreen downgraded to Neutral from Buy at Citi
- Pactiv Evergreen Merges with Novolex in $6.7B Deal
- Novolex to acquire Pactiv Evergreen for $18.00 per share in cash
- Apollo’s Novolex exploring bid for Pactiv Evergreen, Bloomberg reports