UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Sonoco Products Company
In a report published Monday, Jefferies & Company reiterated its Hold rating on Sonoco Products Company (NYSE: SON), but lowered its price target from $35.00 to $33.00.
Jefferies noted, “While mgmt's guidance is shy of consensus estimates, most of the shortfall was non-operating related and we are encouraged that SON is not seeing any real change in order patterns and demand ahead of a potential fiscal cliff.”
Sonoco Products Company closed on Friday at $29.76.
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