BofA Downgrades WestRock, Cuts Price Target By 5%

• BofA analyst George Staphos downgraded WestRock Co (NYSE:WRK) to Neutral from Buy with a price target of $57, down from $60. 
• The analyst noted containerboard business still has merits, and despite some recent deceleration, his survey data remained positive in the first half of 2021.
• Staphos noted the early response from his latest survey suggests "further deceleration," and he is no longer projecting a fourth price hike in his assumptions.
• Price Action: WRK shares are trading lower by 2.68% at $45.03 in premarket on the last check Thursday.