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Fly News Breaks for January 31, 2020
PKG
Jan 31, 2020 | 07:33 EDT
Argus analyst David Coleman downgraded Packaging Corp. to Hold from Buy after its in-line Q4 earnings and below-consensus Q1 guidance. The analyst notes that the company's earnings have declined over the recent quarters amid continued challenges from rising costs and lower selling prices. Coleman also believes that Packaging Corp has had difficulty adjusting plant operations to take advantage of changes in customer demand.
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