Wells Fargo added Graphic Packaging to the firm’s Q2 Tactical Ideas List. Wells rates the shares Underweight, with a price target of $21, given its view of oversupplied conditions and still-sluggish packaged food demand. With widening spreads between U.S. and global prices, the firm believes import activity could accelerate exerting additional pressure on domestic pricing.
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Read More on GPK:
- Graphic Packaging price target raised to $30 from $28 at Baird
- Graphic Packaging price target raised to $21 from $20 at Wells Fargo
- Graphic Packaging upgraded to Outperform from Market Perform at Raymond James
- Graphic Packaging Announces Major Paperboard Business Sale
- Graphic Packaging sees FY24 adjusted EPS $2.50-$3.00, consensus $2.74
