BNP Paribas downgrades Packaging Corp to 'neutral' after strong price performance

Packaging of America

12/04/2024 11:22

** Brokerage BNP Paribas Exane downgrades Packaging Corp of
America  PKG.N  to 'Neutral' from 'Outperform'
    ** Many paper grades are showing first positive price
movement since mid-2022 but brokerage skeptical if pulp price
gains can be sustained
    ** Current PT of $182 represents a downside of 2.29% to the
last closing share price 
    ** Co's shares have gained 31% in last 12 months
    ** Of 9 analysts covering the stock, 5 rate it 'hold', three
rate it 'buy' or 'strong buy' and one rates it 'sell' 
    

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))