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Fly News Breaks for May 18, 2016
KS, RKT, IP, PKG
May 18, 2016 | 08:15 EDT
Wells Fargo downgraded the containers and packaging sector to Market Weight from Overweight. As reasons for the downgrade, the firm cited valuation and its belief that investors have begun shifting towards growth stocks and away from defensive names, including those in the packaging sector. Companies in the sector include Packaging Corp of America (PKG), International Paper (IP), Rock-Tenn Company (RKT), and KapStone Paper (KS).