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UPDATE: Jefferies Raises PT on Sonoco Products Following 2Q13 Earnings Preview

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In a report published Wednesday, Jefferies analyst Philip Ng reiterated a Hold rating on Sonoco Products (NYSE: SON), and raised the price target from $34.00 to $38.00.

In the report, Jefferies noted, “We expect 2Q results to be soft, driven by bad weather and FX, but we believe the news is baked into the stocks already. With weather normalizing, pricing flowing through more fully, and the group generating record FCF, we remain constructive on the sector.”

Sonoco Products closed on Tuesday at $35.86.

Latest Ratings for SON

DateFirmActionFromTo
Apr 2021Seaport GlobalDowngradesBuyNeutral
Apr 2021Wells FargoDowngradesOverweightEqual-Weight
Jan 2021BMO CapitalDowngradesOutperformMarket Perform

View More Analyst Ratings for SON
View the Latest Analyst Ratings

 

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Posted-In: Jefferies Philip NgAnalyst Color Price Target Analyst Ratings

Latest Ratings

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GIKColliers SecuritiesInitiates Coverage On14.0
SANWLake StreetInitiates Coverage On6.0
LILAMorgan StanleyDowngrades15.0
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