Deutsche Bank Upgrades Rock-Tenn (RKT) to Buy; On First Blush, FYQ3 Appears Ahead of Target

Deutsche Bank upgraded Rock-Tenn (NYSE: RKT) from Hold to Buy with a price target of $80.00.

Deutsche analyst says, "Results from FYQ3 were ahead of our pro-forma targets. Moreover, reports that the company is already 50% of the way to its 24-month synergy target from the Smurfit-Stone acquisition will force a reconsideration of just how large the synergies could ultimately prove. While we think economic & industry�fundamentals have grown more challenging over the past few months, we think RKT’s stock offers good value at current levels. Investors with a 12-18 month time horizon should be well-reward."

For more ratings news on Rock-Tenn click here and for the rating history of Rock-Tenn click here.

Shares of Rock-Tenn closed at $58.82 yesterday.

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