Packaging Corporation of America upgraded to Buy by Jefferies

|About: Packaging Corporation Of America (PKG)|By:, SA News Editor

Packaging Corporation of America (PKG +8.4%) shares continue to run as Jefferies upgrades the company to Buy from Hold and raises its PT to $70 from $49 with a bull-case scenario of $88.

Analyst Philip Ng believes the company's acquisition of Boise comes at an attractive multiple and called the deal "great."