After Citigroup and Stephens gave Graphic Packaging (NYSE: GPK) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Arun Viswanathan reiterated a Buy rating on Graphic Packaging yesterday and set a price target of $15. The company’s shares closed yesterday at $10.55, close to its 52-week low of $10.04.
According to TipRanks.com, Viswanathan is a 4-star analyst with an average return of 5.8% and a 52.3% success rate. Viswanathan covers the Consumer Goods sector, focusing on stocks such as Westlake Chemical Corp, Axalta Coating Systems, and Venator Materials Plc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Graphic Packaging with a $16.14 average price target, a 53.0% upside from current levels. In a report issued on October 11, Citigroup also maintained a Buy rating on the stock with a $16 price target.
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Based on Graphic Packaging’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.53 billion and net profit of $94.3 million. In comparison, last year the company had a net profit of $47.3 million.
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Graphic Packaging Holding Co. provides paper-based packaging solutions for a variety of products to food, beverage and other consumer products companies. It also produces folding cartons, kraft paperboard, coated-recycled boxboard and multi-wall bags.
