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Fly News Breaks for January 27, 2017
GPK
Jan 27, 2017 | 06:53 EDT
Goldman analyst Brian Maguire removed Graphic Packaging from the Conviction Buy List and maintained its $15.50 price target. The analyst said shares have underperformed since the guidance cut in October due to weaker end markets, higher OCC costs, FX, inventory restocking, Hurricane Mathew, and inventory restocking. He maintains a Buy rating citing strategic value, free-cash-flow yield, benefits to moving towards a cost-plus model, and attractive valuation.
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