UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Rock-Tenn Company

In a report published Friday, Jefferies & Company reiterated its Buy rating on Rock-Tenn Company (NYSE: RKT), and raised its price target from $82.00 to $87.00.

Jefferies noted, “The underlying fundamentals for the sector are more favorable than last year, with demand stabilizing and 2013 shaping up as a record FCF year. That said, with the group rallying and trading at historical average multiples, we believe investors need to be selective. Our favorite longs are RKT, OI, CCK, and SEE.”

Rock-Tenn Company closed on Thursday at $74.28.