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WRK

WestRock

$36.88

-1.85 (-4.78%)

07:34
04/17/19
04/17
07:34
04/17/19
07:34

WestRock downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank analyst Debbie Jones downgraded WestRock to Hold from Buy and lowered her price target for the shares to $42 from $51. Box price erosion and deteriorating export markets bring downside risk to estimates, Jones tells investors in a research note. Further, while shares of WestRock are undervalued relative to historical multiples, structural changes in the containerboard industry and "deteriorating" fundamentals make it hard to have conviction that the stock will re-rate in the near-term, says the analyst. Jones does not see a near-term catalyst for WestRock.

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WRK WestRock
$36.88

-1.85 (-4.78%)

01/08/19
RBCM
01/08/19
DOWNGRADE
RBCM
Sector Perform
WestRock downgraded to Sector Perform from Outperform at RBC Capital
01/08/19
RBCM
01/08/19
DOWNGRADE
Target $47
RBCM
Sector Perform
WestRock cut to Sector Perform at RBC Capital on c-board/packaging sector risks
As reported earlier, RBC Capital analyst Paul Quinn downgraded WestRock to Sector Perform from Outperform and also lowered his price target to $47 from $64. The analyst cites the well-known "wall of worry" faced by the packaging producers in 2019, stating that while the company represents a "solid longer term investment", he urges investors to be "more selective" in containerboard and packaging sector exposure. Quinn adds that the cost headwinds faced by companies like WestRock have been greater than anticipated, and the lag in industry price increases have been "considerable".
01/17/19
DBAB
01/17/19
NO CHANGE
DBAB
Deutsche Bank cuts price targets in containerboard space
In addition to lingering concern over the impact of new supply, investors are now even more cautious on the containerboard stocks due to industry data showing growth moderating and persistently elevated inventories, Deutsche Bank analyst Debbie Jones tells investors in a research note titled "Thinking about downside risk to containerboard stocks." Trade publication Pulp and Paper Week also highlighted some domestic discounting and declining export prices while quoting bearish commentary from industry contacts and analysts regarding market conditions, adds the analyst. She lowered her price target for Hold-rated International Paper (IP) to $46 from $55, for Buy-rated WestRock (WRK) to $51 from $58 and for Hold-rated Packaging Corp. of America to $100 from $120.
04/16/19
BOFA
04/16/19
DOWNGRADE
BOFA
Neutral
International Paper, Packaging Corp. downgraded to Neutral at BofA/Merrill
As previously reported, BofA Merrill Lynch analyst George Staphos downgraded International Paper (IP) and Packaging Corp. (PKG), each to Neutral from Buy, following "disappointing" March containerboard industry data points reported today. Box shipments were down a "surprising" 3.0% year-over-year and inventories declined 47,000 tons, said Staphos, who believes the industry needs to drop inventories 400-500K tons between February and June to get back into balance. The analyst, who now anticipates an increased likelihood of another price cut during Q2, lowered his price target on International Paper shares to $50 from $53, cut his price target on Packaging Corp. to $107 from $112 and lowered his price target on WestRock (WRK) to $41 from $43.

TODAY'S FREE FLY STORIES

LUV

Southwest

$54.46

1.54 (2.91%)

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CMG

Chipotle

$674.52

-35.48 (-5.00%)

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MSFT

Microsoft

$129.78

4.78 (3.82%)

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Facebook

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MSFT

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FB

Facebook

$195.10

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MMM

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DB

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Commerzbank

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FBHS

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NOW

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MMLP

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FCX

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XLF

Financial Select Sector

$27.49

0.1 (0.37%)

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MMM

3M

$195.01

-24.23 (-11.05%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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NASDAQ market internals summary »

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MMM

3M

$195.20

-24.04 (-10.97%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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NYSE market internals summary »

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MMM

3M

$195.55

-23.69 (-10.81%)

, HON

Honeywell

$170.63

-0.63 (-0.37%)

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3M

$195.55

-23.69 (-10.81%)

HON

Honeywell

$170.63

-0.63 (-0.37%)

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MMM

3M

$195.61

-23.63 (-10.78%)

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MAS

Masco

$38.51

-1.47 (-3.68%)

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NITE

Nightstar Therapeutics

$25.54

0.01 (0.04%)

, BIIB

Biogen

$230.56

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NITE

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BIIB

Biogen

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FNB

F.N.B.

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CRC

California Resources

$22.75

-3.55 (-13.50%)

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HZO

MarineMax

$16.59

-3.255 (-16.41%)

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CLS

Celestica

$7.19

-1.42 (-16.50%)

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AAN

Aaron's

$58.07

4.745 (8.90%)

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WAB

Wabtec

$71.90

-4.67 (-6.10%)

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OIS

Oil States

$20.53

2.11 (11.45%)

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ASPN

Aspen Aerogels

$3.56

0.36 (11.25%)

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NWL

Newell Brands

$13.84

-0.4 (-2.81%)

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GILD

Gilead

$63.57

0.75 (1.19%)

11:48
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IMMR

Immersion

$9.27

0.03 (0.32%)

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Immersion call volume above normal and directionally bullish »

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11:45
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General news
Treasury's $85 B 4- and 8-week bill auctions were mixed »

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