UPDATE: Goldman Sachs Starts WestRock LLC (WRK) at Neutral
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(Updated - September 22, 2016 9:18 AM EDT)
Goldman Sachs initiated coverage on WestRock LLC (NYSE: WRK) with a Neutral rating and a price target of $53. Analyst Brian Maguire said the company is best positioned to benefit if containerboard improves.
"We believe WRK is best positioned among Containerboard stocks in our coverage given its diversified boxboard exposure, valuation discount relative to peers, and self-help opportunities (MWV synergies, share repurchases). However, we remain on the sidelines until our view on Containerboard improves and/or US industrial production shows more signs of growth," said Maguire.
Shares of WestRock LLC closed at $48.29 yesterday.
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