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Fly News Breaks for December 10, 2018
WRK
Dec 10, 2018 | 06:20 EDT
Goldman Sachs analyst Brian Maguire downgraded WestRock to Neutral and lowered his price target for the shares to $54 from $57. The analyst sees accelerating supply coupled with decelerating demand. The recent "sharp acceleration" in announcements of new U.S. containerboard capacity comes at a time when U.S. box shipment demand growth is decelerating and macroeconomic growth is projected to decelerate in 2019, Maguire tells investors in a research note. The analyst prefers to wait on the sidelines ahead of likely U.S. price cuts at some point in 2019 or 2020.
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