Investopedia: Packaging Corp Shows The Risk Of Underestimating Good Companies

It's well worth remembering that good companies have a way of surpassing expectations and delivering strong results. I should have remembered that lesson last quarter when it came to Packaging Corp of America (NYSE:PKG).

While I have long liked Packaging Corp (aka "PCA") as one of the best-run paper/packaging companies in the country, I didn't see much slack left in the valuation. Yet, not only has the company continued to see good expense leverage, but it has continued to gain share in the market, while enjoying strong industry-wide pricing. That propelled the stock up more than 20% over the past three months.

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http://www.investopedia.com/stock-analysis/2012/Packaging-Corp-Shows-The-Risk-Of-Underestimating-Good-Companies-PKG-RKT-IP-BZ1017.aspx