Deutsche Bank Upgrades Rock-Tenn (RKT) to Buy, Greater Chance Price Hikes to Stick

Deutsche Bank upgraded Rock-Tenn (NYSE: RKT) from Hold to Buy with a price target of $75.00.

As part of a broad sector call, the firm is increasing our probability of success estimate on the current containerboard hike from 50% to 75-80%. The cited two factors: (1) It is hard to remain neutral in the face of a 115K/ton m/m drop in inventories to the lowest August level in decades & a 97.5% operating rate, (2) conversations with privately-held players across the trade convinced us that we have been too cautious.

For an analyst ratings summary and ratings history on Rock-Tenn click here. For more ratings news on Rock-Tenn click here.

Shares of Rock-Tenn closed at $67.36 yesterday.

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