Citi Downgrades Graphic Packaging Holding Company (GPK) to Neutral

Citi analyst Anthony Pettinari downgraded Graphic Packaging Holding Company (NYSE: GPK) from Buy to Neutral with a price target of $30.00 (from $33.00).

The analyst comments "Downgrade to Neutral — We are downgrading GPK to Neutral, reflecting potential price/cost pressure, tepid organic vol growth, and fair valuation. We expect GPK to provide FY’25 guidance at 4Q reporting in early February, which we expect could come in at $1.60-1.80B EBITDA (Citi $1.735B vs $1.756B cons) and $2.40-2.90 EPS (Citi $2.60 vs $2.66 cons); our est imply +MSD% EBITDA & EPS growth, and consider +1.5% net organic vols and +$100mm net performance/downtime/FX, partially offset by price/cost (-$10mm), L&B (-$100mm) & M&A (-$20mm)."

For an analyst ratings summary and ratings history on Graphic Packaging Holding Company click here. For more ratings news on Graphic Packaging Holding Company click here.

Shares of Graphic Packaging Holding Company closed at $26.49 yesterday.

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