WestRock price target lowered to $42 from $48 at Truist

Truist analyst Michael Roxland lowered the firm’s price target on WestRock to $42 from $48 and keeps a Hold rating on the shares after its Q1 earnings miss. The company’s Corrugated Packaging benefitted from lower inflation and operating costs, and less economic downtime, offset by mill closures, lower volumes, and lower index pricing earlier in the year, the analyst tells investors in a research note. Truist adds however that in Consumer Packaging, demand softened across all end-markets, while input cost inflation, economic downtime, and prior year rationalization actions negatively affected results.