Oppenheimer on Graphic Packaging Holdings Co. (GPK)

Graphic Packaging Holdings Co. (NYSE: GPK) is currently rated Outperform by Oppenheimer. GPK offers packaging solutions for consumer product companies.

Oppenheimer's 12-18 month price target for GPK is $5.00. GPK is currently trading at $2.91.

Oppenheimer analysts Ian Zaffino and Brian Bittner had this to say:

"Primary equity offering unlikely given the increased EV/EBITDA discount to the group. OCC was a $14M headwind in 2Q10 and likely offset lower natural gas and seasonal strength. OCC has declined to $125/ton from unprecedented levels of $170/ton in 2Q10, and 2H10 and 2011 could benefit as price increases kick in. We decrease our 2010E/2011E EBITDA to $570M/$622M from $602M/$633M, owing to conservative volume assumptions."

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