KeyBanc Starts Graphic Packaging Holding Company (GPK) at Sector Weight
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KeyBanc initiated coverage on Graphic Packaging Holding Company (NYSE: GPK) with a Sector Weight rating. Analyst Adam Josephson sees valuation as fair.
"GPK is dealing with weak volume in its core markets and pricing pressure as a result. These trends are likely to persist into next year, such that we are modestly below consensus for 2017. We do not see upside to consensus estimates for the foreseeable future barring a large debt-financed acquisition, the likelihood of which is unknown. GPK is trading modestly above containerboard companies and below packaging companies, which we consider appropriate given its middle of the pack margins and returns and challenging industry fundamentals. Given those aforementioned factors, we are initiating coverage with a Sector Weight rating," said the analyst.
Shares of Graphic Packaging Holding Company closed at $12.84 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesKeyBanc, Definitive Agreement
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