Packaging Corp. price target raised to $253 from $235 at Wells Fargo

Wells Fargo analyst Gabe Hajde raised the firm’s price target on Packaging Corp. (PKG) to $253 from $235 and keeps an Overweight rating on the shares. The firm believes Packaging Corp.’s 11.1% of same-day shipments in Q3 solidifies its position in a league of its own. With a honed commercial plus operational strategy, well-invested assets, and potential capital return driving upside, Wells remains bullish on the name.