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Wells Fargo Maintains Equal-Weight Rating for Packaging Corp of America: Here's What You Need To Know

Wells Fargo has decided to maintain its Equal-Weight rating of Packaging Corp of America (NYSE:PKG) and lower its price target from $154.00 to $143.00. Shares of Packaging Corp of America are trading up 0.33% over the last 24 hours, at $137.38 per share.

Benzinga · 07/27/2022 12:37

Wells Fargo has decided to maintain its Equal-Weight rating of Packaging Corp of America (NYSE:PKG) and lower its price target from $154.00 to $143.00.

Shares of Packaging Corp of America are trading up 0.33% over the last 24 hours, at $137.38 per share.

A move to $143.00 would account for a 4.09% increase from the current share price.

About Packaging Corp of America

Packaging Corp of America is the fourth- largest containerboard and corrugated packaging manufacturer in the United States. It produces roughly 4 million tons of containerboard annually. The company's share of the domestic containerboard market is about 10%. It differentiates itself from larger competitors by focusing on smaller customers and operating with a high degree of flexibility. Its three reportable segments: Packaging, Paper and Corporate and Other.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.