Packaging Corp. price target raised to $156 from $140 at Truist

Truist raised the firm’s price target on Packaging Corp. to $156 from $140 and keeps a Buy rating on the shares after its Q2 earnings beat. The company is the “best-in-class” domestic containerboard producer and the firm’s higher price target is reflecting Packaging Corp’s continued strong execution and cost focus despite a challenging market environment, the analyst tells investors in a research note.