Ranpak Holdings price target lowered to $7 from $10 at Baird

Baird analyst Gransham Panjabi lowered the firm’s price target on Ranpak Holdings to $7 from $10 and keeps an Outperform rating on the shares. The analyst said while shareholders felt enormous pain in 2022 due to a confluence of events that impacted Ranpak/peers during the year, a positive volume start to 2023 and a now favorable price/cost dynamic gives us confidence that fundamentals have inflected to the plus side for the company.