Ranpak Holdings price target raised to $8 from $6 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Ranpak Holdings to $8 from $6 and keeps a Buy rating on the shares. The firm notes Ranpak reported solid Q4 results with upside to both revenue and EBITDA as volumes improved better than expected across geographies during the quarter. While an outsized debt profile remains an overhang, the company will generate positive free cash flow this year and has positioned itself for a refinancing event later this year, which should help alleviate some investor concern, Craig-Hallum adds.