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PKG

Packaging Corp.

$106.51

-3.48 (-3.16%)

, IP

International Paper

$53.18

-1.11 (-2.04%)

07:39
08/22/17
08/22
07:39
08/22/17
07:39

Packaging Corp. linerboard capacity concerns overblown, says Jefferies

Jefferies analyst Philip Ng said Packaging Corp. (PKG) is adding 1% of supply by late 2018 with its purchase of West Coast box assets and plans to convert one of its Wallula mills to produce kraft linerboard, which does not change his view on the tightness of the linerboard market. He would view the pullback in Packaging Corp. shares on the news as a buying opportunity and would use the pullback in peers International Paper (IP) and WestRock (WRK) to add to positions as well, he tells investors. Ng keeps a Buy rating and $128 price target on Packaging Corp. shares, which fell about 3% to $106.51 yesterday.

PKG

Packaging Corp.

$106.51

-3.48 (-3.16%)

IP

International Paper

$53.18

-1.11 (-2.04%)

WRK

WestRock

$54.33

-1.96 (-3.48%)

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PKG Packaging Corp.
$106.51

-3.48 (-3.16%)

07/12/17
GSCO
07/12/17
UPGRADE
Target $111
GSCO
Neutral
Packaging Corp. upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Brian Maguire upgraded Packaging Corp. of America to Neutral and raised his price target for the shares to $111 from $105. Acceleration in box demand is now sustainable due to e-commerce and the company has optionality with its balance sheet, Maguire tells investors in a research note. He now sees Packaging Corp.'s premium valuation as justified.
07/12/17
GSCO
07/12/17
UPGRADE
GSCO
Buy
International Paper upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Brian Maguire upgraded International Paper (IP) to Buy and raised his price target for the shares to $64 from $60. The paper and packaging company closed the trading day up 17c to $57.21. With e-commerce now a larger part of the base, box demand can grow 2%-3%, Maguire tells investors in a research note. He also believes 2018 consensus estimates do not reflect Containerboard price increases. Maguire tonight also upgraded Packaging Corp. of America (PKG) to Neutral and downgraded Silgan Holdings (SLGN) to Sell.
07/10/17
WELS
07/10/17
DOWNGRADE
Target $114
WELS
Market Perform
Packaging Corp. downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Christopher Manuel downgraded Packaging Corporation of America to Market Perform citing a more balanced risk/reward at current valuation levels. Known catalysts are reflected at current share levels, Manuel tells investors in a research note. The analyst has a $114 price target for the stock.
07/28/17
VERT
07/28/17
NO CHANGE
VERT
Vertical says Domtar-fueled containerboard selloff a buying opportunity
Vertical Research analyst Chip Dillon attributes the selloff in containerboard stocks to comments from Domtar's (UFS) CEO that he is considering converting some of the company's existing uncoated free sheet capacity to kraft linerboard. Dillon views this as likely a negotiating tactic by Domtar, which does not plan to "roll over" and may be setting up to discuss a sale of assets, a joint venture or possibly even a sale of the company. Dillon recommends buying Domtar and International Paper (IP) on this dip, and also likes WestRock (WRK), KapStone (KS) and Packaging Corp. (PKG), he tells investors in an intraday research note.
IP International Paper
$53.18

-1.11 (-2.04%)

07/28/17
VERT
07/28/17
NO CHANGE
VERT
International Paper, Domtar selloff a buying opportunity, says Vertical Research
08/14/17
DADA
08/14/17
UPGRADE
Target $62
DADA
Buy
International Paper upgraded to Buy from Neutral at DA Davidson
DA Davidson analyst Steven Chercover upgraded International Paper to Buy citing the 18% upside to his price target of $62 as well as the 3.5% dividend yield. The analyst sees less risk following the recent share pullback and views the containerboard market as "robust."
08/14/17
08/14/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. International Paper (IP) upgraded to Buy from Neutral at DA Davidson with analyst Steven Chercover citing the 18% upside to his price target of $62 as well as the 3.5% dividend yield. 2. Masimo (MASI) upgraded to Buy from Neutral with analyst Sean Lavin saying he is more bullish on the Philips (PHG) agreement leading to increased revenue and margins, and the recent share pullback has provided a buying opportunity. Further, the analyst thinks Johnson & Johnson (JNJ) could be an acquirer of Masimo as it sells its products into the OR and ICU markets and would "massively" expand operating margins, and notes Philips may see the value of Masimo's products and make a bid. 3. NetApp (NTAP) upgraded to Buy from Hold at Maxim with analyst Nehal Chokshi saying channel checks indicate the company's hybrid cloud capabilities have gained traction. 4. Orbital ATK (OA) upgraded to Buy from Hold at Argus with analyst David Coleman citing valuation and his belief that its cash flow can increase. 5. Werner (WERN) upgraded to Overweight from Equal Weight at Stephens with analyst Brad Delco saying it is an attractive way to play an inflection in TL fundamentals. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
WRK WestRock
$54.33

-1.96 (-3.48%)

04/24/17
JEFF
04/24/17
NO CHANGE
JEFF
Containerboard stocks offer 'compelling value,' says Jefferies
Pulp & Paper Weekly reflected the full $50 per ton containerboard price increase in its latest price update, Jefferies analyst Philip Ng tells investors in a research note. The hike should provide a 26%-31% lift to earnings on a full run rate basis for International Paper (IP), Packaging Corp. (PKG) and WestRock (WRK), Ng adds, noting this is already reflected in his estimates. He notes the shares are trading with an 8.4%-11.5% free cash flow yield on his 2018 estimates. Containerboard stocks "present compelling value," Ng argues.
07/13/17
GSCO
07/13/17
UPGRADE
GSCO
Conviction Buy
WestRock upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Brian Maguire added WestRock to the Conviction Buy List and raised its price target to $68 from $65 citing earnings leverage from eCommerce growth.
07/10/17
WELS
07/10/17
NO CHANGE
WELS
WestRock should be bought ahead of Q4 results, says Wells Fargo
Wells Fargo recommends buying WestRock ahead of the company's Q4 results, as the firm says that acquisitions should enable its "earnings momentum" to rise considerably" starting this quarter. It keeps an Outperform rating on the stock.

TODAY'S FREE FLY STORIES

WLFC

Willis Lease

$26.66

0.05 (0.19%)

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DPS

Dr Pepper Snapple

$96.35

1.03 (1.08%)

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RCII

Rent-A-Center

$11.70

0.09 (0.78%)

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AR

Antero Resources

$18.74

-0.59 (-3.05%)

17:44
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Recommendations
Antero Resources analyst commentary at MUFG »

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T

AT&T

$37.21

0.06 (0.16%)

, TWX

Time Warner

$93.36

0.39 (0.42%)

17:44
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Periodicals
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T

AT&T

$37.21

0.06 (0.16%)

TWX

Time Warner

$93.36

0.39 (0.42%)

VZ

Verizon

$51.91

0.36 (0.70%)

CMCSA

Comcast

$42.50

0.65 (1.55%)

CMCSK

Comcast

DISH

Dish

$45.26

0.1 (0.22%)

CHTR

Charter

$366.05

0.8 (0.22%)

DIS

Disney

$110.59

0.17 (0.15%)

VIA

Viacom

$39.20

-0.5 (-1.26%)

VIAB

Viacom

$33.36

-0.59 (-1.74%)

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    Feb

GRPN

Groupon

$5.57

0.46 (9.00%)

17:44
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Hot Stocks
Groupon announces Chief Product Officer Jay Sullivan resigns »

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CELG

Celgene

$102.65

0.93 (0.91%)

17:41
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VALU

Value Line

$19.60

0.3 (1.55%)

17:40
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Value Line reaffirms $3M stock repurchase program »

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VALU

Value Line

$19.60

0.3 (1.55%)

17:39
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Value Line declares special dividend of 20c per share »

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ZEAL

Zealand Pharma

$15.05

-0.78 (-4.93%)

17:34
01/19/18
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Zealand Pharma: FDA approves IND for Phase 3 trials of dasiglucagon in CHI »

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GNMSF

Genmab

$190.75

2.75 (1.46%)

, JNJ

Johnson & Johnson

$147.36

0.44 (0.30%)

17:29
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Genmab says FDA grants priority review for daratumumab »

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Genmab

$190.75

2.75 (1.46%)

JNJ

Johnson & Johnson

$147.36

0.44 (0.30%)

03/08/13
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HII

Huntington Ingalls

$242.12

5.24 (2.21%)

17:21
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Hot Stocks
Huntington Ingalls awarded $125.2M government contract modification »

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BAESY

BAE Systems

$33.30

0.18 (0.54%)

, GD

General Dynamics

$209.10

1.3 (0.63%)

17:20
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Hot Stocks
BAE Systems, General Dynamics awarded $237.6M government contract modification »

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BAESY

BAE Systems

$33.30

0.18 (0.54%)

GD

General Dynamics

$209.10

1.3 (0.63%)

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  • 24

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SYRS

Syros Pharmaceuticals

$10.80

0.27 (2.56%)

17:17
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Syndicate
Breaking Syndicate news story on Syros Pharmaceuticals »

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WTFC

Wintrust Financial

$87.81

0.96 (1.11%)

17:13
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Wintrust Financial raises its minimum wage to $15 per hour »

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  • 23

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TWTR

Twitter

$23.66

-0.38 (-1.58%)

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Twitter says has identified more IRA and automated Russia-based accounts »

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ITEK

Inotek Pharmaceuticals

17:04
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Boxer Capital reports 5.3% passive stake in Rocket Pharmaceuticals »

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OIS

Oil States

$32.80

0.35 (1.08%)

17:03
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Breaking Syndicate news story on Oil States »

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AVGO

Broadcom

$266.39

-3.41 (-1.26%)

, QCOM

Qualcomm

$68.04

-0.01 (-0.01%)

16:43
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Broadcom receives second request from FTC for proposed Qualcomm deal »

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AVGO

Broadcom

$266.39

-3.41 (-1.26%)

QCOM

Qualcomm

$68.04

-0.01 (-0.01%)

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  • 06

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TRNC

tronc

$19.53

0.3 (1.56%)

16:37
01/19/18
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AP

Ampco-Pittsburgh

$14.20

0.15 (1.07%)

16:35
01/19/18
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Syndicate
Breaking Syndicate news story on Ampco-Pittsburgh »

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  • 29

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CG

Carlyle Group

$24.35

-0.05 (-0.20%)

, UBSH

Union Bankshares

$38.79

0.54 (1.41%)

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CG

Carlyle Group

$24.35

-0.05 (-0.20%)

UBSH

Union Bankshares

$38.79

0.54 (1.41%)

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  • 23

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ANDX

Andeavor Logistics

$52.52

0.12 (0.23%)

16:31
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Andeavor Logistics raises quarterly cash distribution to $1.00 per unit »

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  • 16

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Options
Preliminary option volume of 22.8M today »

Preliminary option volume…

TRNC

tronc

$19.53

0.3 (1.56%)

16:26
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Periodicals
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