Reported about 1 year ago
Bank of America raised its rating to Buy for the paper and forest products sector, expressing bullish sentiments towards the industry's outlook and trends. Analysts are optimistic due to an improved market outlook, with BofA Securities analyst George Staphos highlighting the importance of wholesale cardboard boxes in the market, pointing out that 80% of the economy relies on corrugated boxes. Independent box makers surveyed showed a significant increase in growth expectations for the coming quarters, leading to positive forecasts for companies like Greif, Graphic Packaging, and Packaging Corp. of America. While noting that challenges remain, such as inflation, Staphos believes the sector will continue to grow, especially due to e-commerce trends.
Source: YAHOO