Packaging Corp. (PKG), Kapstone (KS) Announces $50 Containerboard Price Hikes - Deutsche Bank (IP) (WRK)
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Packaging Corp. (NYSE: PKG) and Kapstone (NYSE: KS) increased containerboard prices by $50 per ton following news yesterday International Paper (NYSE: IP) increased prices effected October 1st, said Deutsche Bank. WestRock (NYSE: WRK) may also increase prices.
"We assume WRK will also look to increase prices which would represent ~70% of domestic capacity. We expect that producers can drive through a significant portion of this increase in October, but we have not factored an increase into our 2017 earnings estimates as we are not confident such an increase can roll through at the box level on a sustainable basis and will largely depend on input cost inflation and demand trends. That said, we think this news will be a short-term catalyst for the sector. We expect the first point of visibility on the success of this attempt will be the October 21st issue of PPW," said analyst Debbie Jones.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Finisar (FNSR) to $43 Following 2Q
- Argus Downgrades Sonoco Products (SON) to Hold
- BMO Capital Remains Bullish on Duluth Holdings Inc. (DLTH) Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Trader Talk
Related EntitiesDeutsche Bank, 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!