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Fly News Breaks for May 15, 2019
PKG
May 15, 2019 | 06:41 EDT
UBS analyst Edlain Rodriguez initiated Packaging Corp with a Buy rating and a price target of $109, saying that in spite of the near-term containerboard price decline for the first time in 3 years, the stock offers a favorable risk-reward. The analyst believes that another $40/ton decline in prices anticipated by the market is "too pessimistic", forecasting a more moderate price decline of $10/ton given his expected production downtime and capacity delays.
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