Deutsche Bank Downgrades Packaging Corp. of America (PKG) to Hold
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Deutsche Bank downgraded Packaging Corp. of America (NYSE: PKG) from Buy to Hold with a price target of $90.
"Absent any near-term catalyst, we are downgrading from Buy to Hold on valuation but maintain our $90 PT (~4% upside). We believe estimates reflect the recent $40/ton price increase," said analyst Debbie Jones.
Shares of Packaging Corp. of America closed at $86.29 yesterday.
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