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IP

International Paper

$55.75

-1.54 (-2.69%)

, PKG

Packaging Corp.

$116.00

-2.8 (-2.36%)

10:40
09/22/17
09/22
10:40
09/22/17
10:40

IP marks third capacity expansion in as many years, says KeyBanc

KeyBanc analyst Adam Josephson notes that International Paper (IP) this morning confirmed a containerboard capacity expansion. The conversion cost of $300M, equaling $667 per ton, is nearly double what Packaging Corp. of America (PKG) said it would spend on its own conversion, Josephson tells investors in a research note titled "Confirms a Containerboard Capacity Addition, Yet More Could Be Coming." With International Paper's conversion, the North America containerboard market will now have three "substantial" capacity additions in three years, the analyst adds, citing Kruger's 400,000 ton per year machine that started in May and Packaging Corp.'s 400,000 ton per year Wallula converted machine that will start in Q2 of 2018. Josephson says box demand will need to grow by 2% per year over that period for operating rates to remain stable. He thinks think 1%-2% box demand growth per year is a "reasonable assumption."

IP

International Paper

$55.75

-1.54 (-2.69%)

PKG

Packaging Corp.

$116.00

-2.8 (-2.36%)

KS

KapStone

$21.65

-0.93 (-4.12%)

WRK

WestRock

$55.80

-1.81 (-3.14%)

IP International Paper
$55.75

-1.54 (-2.69%)

09/12/17
DBAB
09/12/17
NO CHANGE
DBAB
Georgia-Pacific reportedly raised containerboard prices, says Deutsche Bank
Deutsche Bank analyst Debbie Jones confirmed that some of her contacts have been informed of a price hike from Georgia-Pacific with an implementation date of October 9. The increase is reportedly for $50 per ton on krafliner and white top and $60 per ton for medium, Jones tells investors in a research note. The analyst expected an increase to be announced later this year for implementation in early 2018, but thinks investor expectations were more mixed regarding the potential for a fall hike. Jones is not aware of any producers following the hike, but expects more announcements this week. To be successful, International Paper (IP) and WestRock (WRK) would also need to raise prices, Jones contends. She believes a successful price increase would be beneficial for International Paper, KapStone (KS), Packaging Corp. (PKG) and WestRock.
09/12/17
JEFF
09/12/17
NO CHANGE
JEFF
Jefferies finds Georgia Pacific price increase as paper stocks rallied
Jefferies analyst Philip Ng said yesterday afternoon that his industry indicated Georgia Pacific announced a $50 per ton linerboard price increase and $60 per ton medium increase. The analyst expects the rest of the industry to match the increase in the coming weeks. A full $50 per ton containerboard price increase would boost earnings by 25%-plus for International Paper (IP), WestRock (WRK) and Packaging Corp. (PKG), the analyst points out. The stocks rallied yesterday afternoon as news of the Georgia Pacific price increase made the rounds.
08/22/17
JEFF
08/22/17
NO CHANGE
Target $128
JEFF
Buy
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.
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.
PKG Packaging Corp.
$116.00

-2.8 (-2.36%)

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.
KS KapStone
$21.65

-0.93 (-4.12%)

08/16/17
SBSH
08/16/17
INITIATION
Target $25
SBSH
Buy
KapStone initiated with a Buy at Citi
Citi analyst Anthony Pettinari started KapStone Paper & Packaging with a Buy rating and $25 price target. The analyst views the valuation as attractive amid strengthening containerboard industry fundamentals and thinks the company could become a takeover target.
07/03/17
VERT
07/03/17
UPGRADE
Target $25
VERT
Buy
KapStone upgraded to Buy from Hold at Vertical Research
Vertical Research analyst Chip Dillon upgraded KapStone to Buy from Hold, noting that DS Smith has agreed to acquire KapStone competitor Interstate Resources for more than 13 times 2016 EBITDA at an implied valuation of $1.077B for its containerboard assets. Dillon raised his price target on KapStone to $25 from $24.
WRK WestRock
$55.80

-1.81 (-3.14%)

TODAY'S FREE FLY STORIES

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ATRS

Antares Pharma

$2.18

0.06 (2.83%)

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SHIP

Seanergy Marine

$1.24

0.0199 (1.63%)

17:50
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10/20
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Breaking Syndicate news story on Seanergy Marine »

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HLI

Houlihan Lokey

$41.56

0.18 (0.43%)

17:49
10/20/17
10/20
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Syndicate
Breaking Syndicate news story on Houlihan Lokey »

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  • 24

    Oct

GEO

Geo Group

$26.20

0.2 (0.77%)

17:48
10/20/17
10/20
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17:48
Syndicate
Breaking Syndicate news story on Geo Group »

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  • 14

    Dec

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

, AIMT

Aimmune

$25.66

-0.06 (-0.23%)

17:37
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10/20
17:37
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17:37
Hot Stocks
DBV sinks following peanut allergy trial miss, Aimmune soars »

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DBVT

DBV Technologies

$48.07

0.92 (1.95%)

AIMT

Aimmune

$25.66

-0.06 (-0.23%)

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  • 06

    Nov

KALV

KalVista

$11.26

1.99 (21.47%)

, DBVT

DBV Technologies

$48.07

0.92 (1.95%)

17:24
10/20/17
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17:24
Hot Stocks
On The Fly: After Hours Movers »

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KALV

KalVista

$11.26

1.99 (21.47%)

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

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IPCI

Intellipharmaceutics

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Breaking Hot Stocks news story on Intellipharmaceutics »

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DBVT

DBV Technologies

$48.07

0.92 (1.95%)

17:21
10/20/17
10/20
17:21
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Hot Stocks
DBV Technologies: PEPITES trial does not reach primary endpoint »

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WFC

Wells Fargo

$54.92

1.17 (2.18%)

17:08
10/20/17
10/20
17:08
10/20/17
17:08
Periodicals
Regulator criticizes Wells Fargo over deceptive auto insurance program, NYT says »

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  • 22

    Oct

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    Nov

  • 15

    Jan

ALIM

Alimera Sciences

17:01
10/20/17
10/20
17:01
10/20/17
17:01
Syndicate
Alimera Sciences to sell $25M in shares in an 'at the market offering' »

On October 20, Alimera…

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03/06/13
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SYMC

Symantec

$32.66

0.33 (1.02%)

16:51
10/20/17
10/20
16:51
10/20/17
16:51
Syndicate
Breaking Syndicate news story on Symantec »

Symantec files to sell 1M…

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  • 01

    Nov

EBMT

Eagle Bancorp

$19.55

0.15 (0.77%)

16:44
10/20/17
10/20
16:44
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16:44
Hot Stocks
Breaking Hot Stocks news story on Eagle Bancorp »

EJF Capital reports 7%…

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KALV

KalVista

$11.26

1.99 (21.47%)

16:43
10/20/17
10/20
16:43
10/20/17
16:43
Hot Stocks
Breaking Hot Stocks news story on KalVista »

Longwood Fund II reports…

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JAGX

Jaguar Health

$0.19

0.002 (1.08%)

16:41
10/20/17
10/20
16:41
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16:41
Syndicate
Breaking Syndicate news story on Jaguar Health »

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TSLA

Tesla

$345.10

-6.71 (-1.91%)

16:40
10/20/17
10/20
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Hot Stocks
Tesla amends 'warehouse agreements' to increase commitments to $1.1B »

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  • 01

    Nov

  • 06

    Nov

SNV

Synovus

$47.30

0.54 (1.15%)

16:38
10/20/17
10/20
16:38
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16:38
Hot Stocks
Synovus CBO sells 10,000 common shares »

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  • 03

    Nov

  • 15

    Nov

GTXI

GTx

$7.92

0.1 (1.28%)

16:38
10/20/17
10/20
16:38
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16:38
Syndicate
Breaking Syndicate news story on GTx »

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ASB

Associated Banc-Corp

$25.90

1.3 (5.28%)

, BKMU

BankMutual

$10.80

0.55 (5.37%)

16:36
10/20/17
10/20
16:36
10/20/17
16:36
Conference/Events
BankMutual to host special shareholder meeting »

Special Shareholder…

ASB

Associated Banc-Corp

$25.90

1.3 (5.28%)

BKMU

BankMutual

$10.80

0.55 (5.37%)

03/08/13
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  • 24

    Oct

CNXR

Connecture

$0.49

-0.01 (-2.00%)

16:35
10/20/17
10/20
16:35
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16:35
Hot Stocks
Breaking Hot Stocks news story on Connecture »

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GE

General Electric

$23.83

0.25 (1.06%)

, PG

Procter & Gamble

$88.25

-3.34 (-3.65%)

16:31
10/20/17
10/20
16:31
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16:31
General news
On The Fly: Top stock stories for Friday »

Stocks opened sharply…

GE

General Electric

$23.83

0.25 (1.06%)

PG

Procter & Gamble

$88.25

-3.34 (-3.65%)

CELG

Celgene

$121.33

-14.63 (-10.76%)

SNCR

Synchronoss

$11.39

-0.12 (-1.04%)

IL

Bought by SNCR

SKX

Skechers

$33.99

9.96 (41.45%)

PYPL

PayPal

$70.97

3.72 (5.53%)

NCR

NCR Corp.

$33.05

-4 (-10.80%)

LHO

LaSalle Hotel

$28.52

-1.94 (-6.37%)

03/08/13
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  • 20

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    Nov

16:30
10/20/17
10/20
16:30
10/20/17
16:30
Options
Preliminary option volume of 22.9M today »

Preliminary option volume…

MKL

Markel

$1,078.23

14.88 (1.40%)

, SNC

State National

$21.05

0.02 (0.10%)

16:26
10/20/17
10/20
16:26
10/20/17
16:26
Conference/Events
State National to host special shareholder meeting »

Special Shareholder…

MKL

Markel

$1,078.23

14.88 (1.40%)

SNC

State National

$21.05

0.02 (0.10%)

03/08/13
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  • 24

    Oct

  • 26

    Oct

RYTM

Rhythm Pharmaceuticals

$23.08

-0.17 (-0.73%)

16:22
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10/20
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Breaking Hot Stocks news story on Rhythm Pharmaceuticals »

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