Jefferies Raises Price Target on WestRock (WRK) to $53; Reiterates Buy
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Jefferies reiterated a Buy rating on WestRock LLC (NYSE: WRK), and raised the price target to $53.00 (from $50.00), following the company's 3Q earnings report.
Analyst Philip Ng commented, "With WRK delivering at the top end of its synergy target, coupled with a $90 - 95 mil tailwind from lower capex and pension in 2017, FCF should remain strong (9% yield) despite the headwinds it's facing. With the stock lagging IP and PKG, and trading with a higher FCF yield and compelling dividend, WRK offers great absolute and relative value, and it's poised to outperform now that sentiment in containerboard has improved."
Shares of WestRock LLC closed at $43.72 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on Reliance Steel (RS) Following 3Q EPS Miss and Guidance
- Maxim Integrated (MXIM) PT Bumped to $45 at Jefferies Following In-Line Results on Note 7 Impact
- PayPal (PYPL) PT Lifted to $48 at Mizuho Following Solid Q3
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!