Packaging Corporation of America initiated at Perform by Wells Fargo

Wells Fargo initiates coverage on Packaging Corporation of America (PKG) at Perform with a PT of $55-$58.

Analyst Christopher Manuel believes PKG is a "a well-run company, with one of the lowest cost (first quartile) containerboard mill systems in North America," and is positioned to benefit from favorable pricing dynamics, but "most catalysts are well known and reflected at current valuation levels."

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