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Fly News Breaks for September 21, 2018
KS, WRK
Sep 21, 2018 | 08:01 EDT
Wells Fargo analyst Gabe Hajde resumed coverage of WestRock (WRK) with a Market Perform rating and $63 price target, stating that uncertainty on the pending KapStone (KS) acquisition, an upcoming heavy capital spending cycle and broader investor concern about industry capacity leave the stock's risk/reward balanced at this point. Over the longer-term, Hajde believes WestRock maintains an inherent and sustainable competitive advantage and he is bullish on its ability to capture industry-proportionate growth in the North American corrugated market.
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