Deutsche Bank Downgrades Rock-Tenn (RKT) to Hold
Deutsche Bank downgraded Rock-Tenn (NYSE: RKT) from Buy to Hold with a price target of $120.00 (from $112.00).
"We like RKT's management team & believe RKT can eliminate much of the margin gap & raise EBITDA margins in its containerboard/corrugated business. However, at current stock price levels, we think a lot of good news is 'priced-in'," said analyst Mark Wilde. "Three near-term risks: (1) a spike in input costs with lagged offsetting price gains, (2) further signs of incremental supply entering the market, and (3) strengthening US$."
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 $114.27 yesterday, with a 52 week range of $55.74-$114.56.
"We like RKT's management team & believe RKT can eliminate much of the margin gap & raise EBITDA margins in its containerboard/corrugated business. However, at current stock price levels, we think a lot of good news is 'priced-in'," said analyst Mark Wilde. "Three near-term risks: (1) a spike in input costs with lagged offsetting price gains, (2) further signs of incremental supply entering the market, and (3) strengthening US$."
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 $114.27 yesterday, with a 52 week range of $55.74-$114.56.