WestRock price target lowered to $34 from $40 at Deutsche Bank

Deutsche Bank analyst Kyle White lowered the firm’s price target on WestRock to $34 from $40 and keeps a Hold rating on the shares post the fiscal Q1 results. WestRock’s decision to pull its fiscal year outlook was "perplexing" considering the company guided to fiscal Q2 and has the benefit of already completing a quarter relative to its peer who just recently provided a fresh 2023 outlook, the analyst tells investors in a research note. The firm believes WestRock is now in the "penalty box."