Packaging Corp. price target raised to $52 from $40 at Truist

Truist raised the firm’s price target on Packaging Corp. to $52 from $40 and keeps a Buy rating on the shares as part of a broader research note on Containerboard names. Multiples across the containerboard producers have increased in recent weeks due to improving demand fundamentals, near-term supply discipline, further potential M&A activity, and rising market valuations, the analyst tells investors in a research note.