UPDATE: BMO Capital Downgrades Packaging Corp. of America (PKG) to Market Perform

November 15, 2016 7:18 AM EST
Get Alerts PKG Hot Sheet
Price: $85.67 -1.78%

Rating Summary:
    8 Buy, 6 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 10
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(Updated - November 15, 2016 9:29 AM EST)

BMO Capital downgraded Packaging Corp. of America (NYSE: PKG) from Outperform to Market Perform with a price target of $89 (unchanged).

Anlayst Mark Wilde said, "Our call hinges on three factors: valuation, challenges in implementing/ retaining a $50/ton containerboard hike, and the strength in the U.S. dollar. PKG is well managed with best-in-class margins. Its strong balance sheet provides financial flexibility. However, with the stock trading within 3.5% of our price target, we're moving to the sidelines. No change to our $89 price target."

For an analyst ratings summary and ratings history on Packaging Corp. of America click here. For more ratings news on Packaging Corp. of America click here.

Shares of Packaging Corp. of America closed at $85.97 yesterday.

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