GPK - Graphic Packaging named 'Buy idea' at Deutsche Bank ahead of earnings

Graphic Packaging ( NYSE: GPK ) was touted by Deutsche Bank as an attractive opportunity ahead of its late July earnings release on Tuesday.

The bank indicated that pricing power for the firm is likely to fuel stronger than anticipated earnings. Additionally, the input costs for Graphic Packaging ( GPK ) were pointed to as likely more under control than the market anticipates.

“We are initiating a catalyst call Buy idea on Graphic Packaging ( GPK ) as we anticipate that the company will provide a preliminary outlook on its price-cost benefits for next year which we estimate will be higher than expectations,” the call explained.

The bank set its 2023 EBITDA estimate 7% above consensus, expecting meaningful upside even beyond the immediate catalyst in the upcoming earnings result.

Despite the bullish call, shares of the Georgia-based packaging company fell 4.98% in premarket trading on Tuesday.

Read more on Wells Fargo’s similarly bullish take on the stock .

For further details see: