Read Why Stifel Downgraded Reynolds Consumer Products

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  • Stifel analyst Mark Astrachan downgraded Reynolds Consumer Products Inc REYN to Hold from Buy with a reduced price target of $31, down from $33, implying an 8.7% upside.
  • The analyst has reduced 2022 and 2023 EPS estimates below consensus, reflecting gross margin pressure from higher input costs.
  • Astrachan expects volumes to worsen as the company has already implemented four rounds of price hikes since 2020.
  • Price Action: REYN shares are trading lower by 3.13% at $28.52 on the last check Wednesday.
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Posted In: Analyst ColorNewsDowngradesPrice TargetAnalyst RatingsBriefs
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