Mon, 06 Aug 2018 08:08 IST
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JP Morgan Downgrades Graphic Packaging (NYSE: GPK) from OVERWEIGHT to NEUTRAL

New York, July 31 ( – Analysts at JP Morgan downgrade their ratings on the shares of Graphic Packaging (NYSE: GPK) from OVERWEIGHT to NEUTRAL. The 12-month target price is set to $6.

In a research note published yesterday, the analysts mention that GPK’s long term story is continued to be liked, which is based on stable end markets, dependable cost takeout and rapid deleveraging along with optionality around share holder friendly capital deployment in the next 6-12 months.

However, the stock’s solid YTD performance has been raised by 35 percent including 10 percent since Q2 release, which is a testament to management’s grind it out mentally around cost savings in which a sluggish macro environment has been seen, which now fairly indicates near term growth and cost savings opportunities, the analysts say.