BofA raised the firm’s price target on WestRock (WRK) to $45 from $40 and keeps a Buy rating on the shares. The firm cites recent industry catalysts as well as its review of comparable and market multiples in raising its price targets on a quartet of names in the packaging and paper space, noting that both International Paper (IP) and Packaging Corp. (PKG) reported plans for containerboard price increases for early 2024 this week.
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Read More on WRK:
- Early notable gainers among liquid option names on November 30th
- Early notable gainers among liquid option names on November 28th
- Packaging Corp. planning containerboard price hike for early 2024, says BofA
- Packaging Corp. pullback ‘quite modest’ considering price cuts, says Seaport
- Early notable gainers among liquid option names on November 24th
