Deutsche Bank Downgrades KapStone Paper & Packaging (KS) to Hold

July 9, 2013 7:16 AM EDT
Get Alerts KS Hot Sheet
Price: $22.64 +1.16%

Rating Summary:
    8 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 16 | New: 11
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Deutsche Bank downgraded KapStone Paper & Packaging (NYSE: KS) from Hold to Hold while maintaining their $38 price target. The firm cited valuation with shares up ~$13/share since KapStone announced the acquisition of Longview Fibre in June.

"At 7.9x our 2014 EBITDA est, KS is the highest multiple containerboard name on our coverage list," analyst Mark Wilde states. "We think expectations are quite strong and leave little room for error."

With the stock at $43, the firm is telling clients the prudent approach is to take some money off the table and revisit the stock for a better entry point in the future.

For an analyst ratings summary and ratings history on KapStone Paper & Packaging click here. For more ratings news on KapStone Paper & Packaging click here.

Shares of KapStone Paper & Packaging closed at $42.94 yesterday.

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