GPK - Graphic Packaging attracts a new bull as Wells Fargo points to short-term and long-term upside

Wells Fargo starts off coverage on Graphic Packaging Holding Company (GPK) with an Overweight rating.Analyst Gabe Hajde: "We believe GPK is a fundamentally solid company, with leading market positions in multiple consumer end markets. We also believe GPK employs a judicious M&A strategy in order to (1) expand product offerings; (2) solidify market position; or (3) advance system integration."Wells sees potential upside from industry price initiatives across GPK’s three primary paperboard grades in the near term and long-term benefits associated with large-scale investments. GPK is expected to be able to resume a more shareholder-friendly redeployment strategy by 2022, following a heavy investment cycle.Shares of GPK are up 2.48% YTD.Wall Street ratings scorecard on GPK: 7 Buy-equivalent ratings, 5 Neutral-equivalent ratings and no Sell-Equivalent ratings.

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Graphic Packaging attracts a new bull as Wells Fargo points to short-term and long-term upside