Containerboard pricing anxiety sends sector names lower
Jun. 24, 2019 10:04 AM ETIP, PKG, WRKBy: Clark Schultz, SA News Editor11 Comments
- Packaging Corp of America (PKG -2.5%) and WestRock (WRK -2%) both trade lower after a Stephens downgrade on International Paper (IP -2.2%) on pricing concerns turns some heads.
- Goldman Sachs is also negative on the sector following the latest pricing update from Pulp & Paper Week, while BMO Capital thinks the low "giveback" on pricing is actually a positive given the higher level of inventory.