Deutsche Bank Downgrades KapStone Paper & Packaging (KS) to Hold; Price Hike Not A "Done Deal"

Deutsche Bank downgraded KapStone Paper & Packaging (NYSE: KS) from Buy to Hold with a price target of $23.00.

Analyst, Mark Wilde, said, "KapStone’s stock has rallied sharply in the past few weeks in anticipation of successful implementation of the $50/ton containerboard price hike. However, with sluggish demand and continued drop in OCC costs, we’re a bit cautious on implementation of the price hike. At current levels, we think the stock is fairly valued."

For an analyst ratings summary and ratings history on KapStone Paper & Packaging click here. For more ratings news on KapStone Paper & Packaging click here.

Shares of KapStone Paper & Packaging closed at $21.22 yesterday.

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