UBS Starts Packaging Corp. of America (PKG) at Neutral

UBS analyst Anojja Shah initiates coverage on Packaging Corp. of America (NYSE: PKG) with a Neutral rating and a price target of $200.00.

The analyst comments: "While PKG regularly posts the best volumes and margins in the sector, we believe the market is implying EBITDA levels above our and consensus numbers for 2025/2026. Using the current PKG stock price, the market is implying $1.93B/$2.05B of EBITDA in 2025/2026. We model $1.82B/$1.95B in 2025/2026, 1% below consensus in 2025 and 1% above in 2026. We model flattish box volumes for PKG in 2025, better than our forecast for the industry (-1%), but below consensus at +1%. We are more bullish on price, +6% vs consensus at +5%. For 2026 we are again more bullish than consensus on price (+1.6% vs consensus at +1.3%) and less so on volume (+1% vs consensus at +2%). In sum, while PKG remains a strong operator, we believe market expectations are above our/consensus forecasts, and we rate the stock Neutral."

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 $194.08 yesterday.

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