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News Breaks
September 21, 2012
10:10 EDTRKT, KS, IP, PKGContainerboard makers surge as analyst sees price increase sticking
Containerboard makers are rallying after Deutsche Bank analyst Mark Wilde earlier today upgraded the stocks covered in the sector to Buy from Hold. Wilde expects the publication Pulp and Paper Week to report that September prices have increased about $40 per ton. After speaking with several privately owned companies in the sector, the analyst sees a much greater chance that a recent containerboard price increase will be maintained. Wilde, who also noted that the sector's inventories dropped to their lowest August level in decades last month, now sees a 75%-80% that the price increase will be maintained, up from his previous 50% estimate. The analyst's upbeat outlook for the sector marks a reversal from a forecast he made earlier this month, when he downgraded all four of the sector's stocks and warned that the containerboard price hike investors were expecting to occur in the Fall may not materialize. The analyst admitted today that he's "eating a bit of crow." In today's note, Wilde upgraded the following containerboard makers to Buy from Hold: International Paper (IP), Rock-Tenn (RKT), Packaging Corp. of America (PKG) and KapStone Paper (KS). In early morning trading, KapStone surged 8.32% to $20.95, International Paper gained 3.20% to $35.81, Rock-Tenn advanced 2.39% to $68.97 and Packaging Corp. of America rose 2.85% to $33.98.
News For IP;RKT;PKG;KS From The Last 14 Days
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December 19, 2014
07:44 EDTRKTRockTenn Berry Plastics outlook attractive, says Wells Fargo
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December 16, 2014
16:08 EDTKSKapStone initiates regular quarterly cash dividend of 10c per share
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December 10, 2014
07:40 EDTIP, KS, PKGBofA/Merrill to hold a conference
2014 U.S. Basic Materials Conference is being held in Boston on December 10-11.
December 9, 2014
10:23 EDTPKGOn The Fly: Analyst Downgrade Summary
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08:10 EDTPKGPackaging Corp. downgraded to Neutral from Buy at DA Davidson
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