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Fly News Breaks for April 24, 2017
WRK, PKG, IP
Apr 24, 2017 | 07:33 EDT
Pulp & Paper Weekly reflected the full $50 per ton containerboard price increase in its latest price update, Jefferies analyst Philip Ng tells investors in a research note. The hike should provide a 26%-31% lift to earnings on a full run rate basis for International Paper (IP), Packaging Corp. (PKG) and WestRock (WRK), Ng adds, noting this is already reflected in his estimates. He notes the shares are trading with an 8.4%-11.5% free cash flow yield on his 2018 estimates. Containerboard stocks "present compelling value," Ng argues.
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