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Fly News Breaks for April 25, 2016
PKG
Apr 25, 2016 | 07:28 EDT
Argus upgraded Packaging Corp to Buy with a $74 price target following the better than expected Q1 report and management commentary that it plans to raise prices in Q3. Analyst David Coleman expects the company to befit from the price increase, lower fiber, energy and freight costs, and from the conversion of the DeRIdder newsprint facility to containerboard production. Coleman also notes Packaging Corp continues to buyback stock and continues to boost its dividend.
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