PKG - Packaging Corp. upped at KeyBanc on best industry fundamentals in 25 years

Packaging Corp. of America ([[PKG]] +1.4%) is in the green after KeyBanc upgrades shares to Sector Weight from Underweight, citing a strong balance sheet and near-term industry fundamentals.KeyBanc Adam Josephson says Packaging Corp.'s balance sheet and returns are among the best of any company he covers, and North American containerboard industry fundamentals are "suddenly the best they've been in 25 years" thanks to the pandemic and related U.S. stimulus.The company's valuation at ~10.5x consensus estimated 2021 EBITDA is full - and historically high - and Josephson does not expect industry fundamentals to remain nearly this strong post-pandemic.

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Packaging Corp. upped at KeyBanc on best industry fundamentals in 25 years