Jefferies analyst Philip Ng upgraded Packaging Corp. (PKG) to Buy from Hold with a price target of $280, up from $215. The firm says Packaging Corp. is the main beneficiary from further share gains as International Paper (IP) and Smurfit Westrock (SW) focus on value over volume and shutter more capacity. As the only U.S. pure play in paper and packaging, consistent share winner, and improving industry structure, Packaging should outperform and its multiple should expand, the analyst tells investors in a research note.
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Read More on PKG:
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
