Fly News Breaks for May 5, 2015
KS, PKG, MWV, RKT, IP
May 5, 2015 | 12:34 EDT
Jefferies said the IRS ruling which appears to exclude the paper-making process from MLP status is a letdown, but noted that the firm had viewed the MLP opportunity as "more of a call" option for the companies in the space. The firm, which said that underlying fundamentals in containerboard have improved materially, views today's pullback as a buying opportunity and does not think there is meaningful further downside for the stocks from current levels. Paperboard stocks that have dropped today after the IRS ruling include KapStone Paper (KS), International Paper (IP), Packaging Corp. (PKG), RockTenn (RKT) and MeadWestvaco (MWV).
News For IP;RKT;MWV;PKG;KS From the Last 2 Days
RKT
Mar 18, 2024 | 09:28 EDT
BofA raised the firm's price target on Rocket Companies to $8 from $7 and keeps an Underperform rating on the shares. The firm raised the multiple it applies to its tweaked 2024/2025 estimates as the mortgage backdrop becomes slightly more constructive. The firm thinks that there could be meaningful EPS upside potential for Rocket if the mortgage refinance environment turns more favorable, the analyst added.