Deutsche Bank Raises Packaging Corporation Of America Price Target To $73
In a research report issued today, Deutsche Bank analyst Debbie Jones reiterated a Hold rating on Packaging Corporation Of America (NYSE:PKG) and raised her price target to $73, following the company’s third-quarter results.
Jones noted, “Results were in-line with DBe and consensus EPS targets of $1.26/share and ahead of guidance of $1.25. Segment performance in both packaging and paper was solid against a tough industry backdrop. Three key updates (1) PKG’s D-3 conversion started production two weeks early, though management refrained from targeting any significant Q4 benefit, (2) EPS guidance for Q4 was in-line with consensus at $1.16/share and (3) news of PKG’s openness to evaluate MLP prospects. In light of recent trends, MLP prospects and solid execution in integrating Boise, we are raising our estimates for PKG and boosting our PT to $73/share.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Debbie Jones has a total average return of -7.4% and a 0.0% success rate. Jones is ranked #2600 out of 3337 analysts.