Barrington Reiterates Perform on Greif Incorporated

Barrington Research maintains its Market Perform rating on Greif Inc. GEF following the company's release of fourth quarter earnings. Barrington says, “Our investment thesis is unchanged due to the deteriorating Western Europe industrial environment. The issue continues to be related to the chemical sector for Rigid Packaging products in Europe. GEF's 2012 guidance was in the form of EBITDA range of $500-550 million, which compares with our previous EBITDA estimate of $535 million, or $3.63 per share. We believe that management guidance equates to a 2012 EPS range of $3.30-3.90.” GEC closed at $46.39 per share on Wednesday.