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PKG

Packaging Corp.

$80.61

-0.84 (-1.03%)

17:01
10/11/16
10/11
17:01
10/11/16
17:01

Packaging Corp. to acquire Columbus Container

Packaging Corporation of America announced that it has entered into a definitive agreement to acquire substantially all of the assets of Columbus Container, an independent corrugated products producer, in a cash-free, debt-free transaction for a cash purchase price of $100M. Under the terms of the agreement, PCA will acquire a full-line corrugated products facility located in Columbus, Indiana, five warehousing facilities and other related operations located in Indiana and Illinois. The transaction is structured as a purchase of assets resulting in a full step-up of the assets to fair market value. Closing is subject to certain customary conditions and regulatory approval and is expected in Q4. The company expects to finance the transaction with available cash on hand.

  • 20

    Oct

PKG Packaging Corp.
$80.61

-0.84 (-1.03%)

09/22/16
GSCO
09/22/16
INITIATION
Target $77
GSCO
Sell
Packaging Corp. initiated with a Sell at Goldman
Goldman analyst Brian Maguire initiated Packaging Corp. with a Sell and a $77 price target. The analyst expects the US containerboard oversupply situation to get worse in 2017 and for industry competition to intensify, which will negatively impact Packaging Corp. given its large exposure.
09/22/16
09/22/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: Packaging Corp. (PKG) initiated with a Sell at Goldman. 2. Netlist (NLST) initiated with a Buy at B. Riley. 3. Weyerhaeuser (WY) initiated with a Conviction Buy at Goldman. 4. bluebird bio (BLUE) reinstated with a Buy at Roth Capital. 5. Dentsply Sirona (XRAY) initiated with a Neutral at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/23/16
DBAB
09/23/16
UPGRADE
Target $90
DBAB
Buy
Packaging Corp. upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Debbie Jones upgraded Packaging Corp. of America (PKG) to Buy citing an "improved earnings trajectory" following the TimBar acquisition. The analyst raised her price target for the shares to $90 from $77. Jones this morning also upgraded KapStone (KS) to Buy. She raised her estimates across the Paper & Packaging space to reflect the likelihood of success for the October containerboard price hike initiative. Jones also raised her price target for Buy-rated WestRock to $53 from $50 and Hold-rating International Paper (IP) to $50 from $42.
09/23/16
09/23/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wal-Mart (WMT) upgraded to Overweight from Equal Weight by Barclays analyst Karen Short, who assumed coverage of Wal-Mart and upped the price target for the shares to $87 from $70. Wal-Mart is Short's top pick in the sector, as she believes the retailing giant's "re-emergence as a disruptor" has the potential to "wreak havoc" on many companies in the space. 2. Cabot Oil & Gas (COG) upgraded two notches to Strong Buy from Market Perform by Raymond James analyst Kevin Smith, who said Cabot has improving fundamentals, a "prolific" growth outlook, and an attractive valuation. 3. BioDelivery Sciences (BDSI) upgraded to Buy from Neutral by Janney Capital analyst Ken Trbovich, who said that Endo International (ENDP), which uses BioDelivery's drug delivery technology, has "not yet announced, but clearly won" preferred status for Belbuca relative to market leader Butrans on United Healthcare's Prescription Drug List. 4. Packaging Corp. (PKG) upgraded to Buy from Hold by Deutsche Bank analyst Debbie Jones, citing an "improved earnings trajectory" following the TimBar acquisition. The analyst raised her price target for the shares to $90 from $77. 5. Prudential Financial (PRU) upgraded to Conviction Buy from Neutral by Goldman Sachs analyst Michael Kovac, who says his earnings estimates are now above consensus due to favorable equity markets, slowing rate pressure and lower currency headwinds. He expects Prudential's earnings to grow 10% in 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

PCRX

Pacira

$35.70

-0.6 (-1.65%)

20:00
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    Sep

AVEVF

Aveva

19:56
09/19/17
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19:56
Upgrade
Aveva rating change  »

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ZLAB

Zai Lab

18:58
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09/19
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Syndicate
Zai Lab announces upsizing of U.S. IPO of American depositary shares »

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  • 20

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OHI

Omega Healthcare

$32.53

-0.12 (-0.37%)

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  • 20

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F

Ford

$11.72

0.09 (0.77%)

18:30
09/19/17
09/19
18:30
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18:30
Periodicals
Ford to slash production at five North American assembly plants, Reuters says »

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FDX

FedEx

$216.00

0.92 (0.43%)

18:26
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18:26
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FedEx says without cyberattack FY18 guidance would not have changed »

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EE

El Paso Electric

$54.85

0.05 (0.09%)

18:25
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18:25
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18:25
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El Paso Electric announces City of El Paso approved settlement terms »

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BBBY

Bed Bath & Beyond

$27.03

-0.27 (-0.99%)

18:17
09/19/17
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18:17
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18:17
Hot Stocks
Bed Bath & Beyond says biggest component in drop of FY17 EPS view is operations »

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  • 19

    Sep

CPRT

Copart

$32.54

-0.32 (-0.97%)

18:11
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18:11
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18:11
Earnings
Copart reports Q4 EPS 30c, consensus 29c »

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  • 20

    Sep

STLD

Steel Dynamics

$33.83

0.03 (0.09%)

18:04
09/19/17
09/19
18:04
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18:04
Earnings
Steel Dynamics sees Q3 adjusted EPS 63c-67c, consensus 70c »

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XBKS

Xenith Bankshares

$29.96

0.42 (1.42%)

17:58
09/19/17
09/19
17:58
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17:58
Hot Stocks
Treasury exits stake in Xenith Bankshares »

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BMY

Bristol-Myers

$62.93

0.23 (0.37%)

17:54
09/19/17
09/19
17:54
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17:54
Periodicals
Breaking Periodicals news story on Bristol-Myers »

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  • 24

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  • 05

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BBBY

Bed Bath & Beyond

17:54
09/19/17
09/19
17:54
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17:54
Hot Stocks
Breaking Hot Stocks news story on Bed Bath & Beyond »

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  • 19

    Sep

DESP

Despegar.com

17:52
09/19/17
09/19
17:52
09/19/17
17:52
Syndicate
Despegar.com 12.7M share IPO priced at $26.00 »

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  • 20

    Sep

WAC

Walter Investment

$0.65

0.186 (40.09%)

17:50
09/19/17
09/19
17:50
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Hot Stocks
Walter Investment says Barclays to increase financing available »

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CBAY

CymaBay

17:49
09/19/17
09/19
17:49
09/19/17
17:49
Initiation
CymaBay initiated at Cantor »

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  • 25

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BBBY

Bed Bath & Beyond

17:46
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Hot Stocks
Bed Bath & Beyond sees net drop in Bed Bath & Beyond stores in FY17 »

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  • 19

    Sep

EVH

Evolent Health

$15.65

-0.8 (-4.86%)

17:45
09/19/17
09/19
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Initiation
Evolent Health initiated at KeyBanc »

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  • 25

    Sep

BPL

Buckeye Partners

$56.33

0.64 (1.15%)

17:44
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Syndicate
Buckeye Partners announces $210M in limited partnership unit sales »

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RL

Ralph Lauren

$91.03

0.87 (0.96%)

17:43
09/19/17
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17:43
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17:43
Initiation
Ralph Lauren initiated at Barclays »

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  • 03

    Oct

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PVH

PVH Corp.

$127.47

-0.54 (-0.42%)

17:43
09/19/17
09/19
17:43
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17:43
Initiation
PVH Corp. initiated at Barclays »

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  • 19

    Sep

GEMP

Gemphire Therapeutics

$9.65

0.54 (5.93%)

, ORIG

Ocean Rig UDW

$0.16

-0.0083 (-4.90%)

17:43
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On The Fly: After Hours Movers »

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GEMP

Gemphire Therapeutics

$9.65

0.54 (5.93%)

ORIG

Ocean Rig UDW

$0.16

-0.0083 (-4.90%)

IOVA

Iovance Biotherapeutics

$8.55

0.3 (3.64%)

BBBY

Bed Bath & Beyond

$27.03

-0.27 (-0.99%)

FDX

FedEx

$216.00

0.92 (0.43%)

ADBE

Adobe

$156.60

0.83 (0.53%)

03/08/13
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KORS

Michael Kors

$46.18

1.53 (3.43%)

17:42
09/19/17
09/19
17:42
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17:42
Initiation
Michael Kors initiated at Barclays »

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LB

L Brands

$39.23

-0.75 (-1.88%)

17:42
09/19/17
09/19
17:42
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17:42
Initiation
L Brands initiated at Barclays »

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HBI

Hanesbrands

$24.71

-0.02 (-0.08%)

17:41
09/19/17
09/19
17:41
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17:41
Initiation
Hanesbrands initiated at Barclays »

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