Seaport Research analyst Mark Weintraub says boxboard-oriented names, and Graphic Packaging (GPK) in particular, fared best last week after PPW had reported flat pricing across in all grades for the month of November. Meanwhile, containerboard names slipped following PPW’s $20/ton reduction on pricing in November, but the pullbacks “struck us as quite modest considering we do not believe that many investors had been anticipating the containerboard price cuts,” the analyst tells investors in the firm’s Packaging Weekly report. The price action for names such as Packaging Corp. (PKG) “suggests to us there is quite possibly an appetite to buy the names if catalysts emerge,” the analyst added. The firm has Buy ratings on Graphic Packaging and Packaging Corp. as well as on WestRock (WRK) and Sonoco Products (SON) and a Neutral rating on International Paper (IP).
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