Citigroup Maintains Buy on Sonoco Prods, Lowers Price Target to $65
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Anthony Pettinari maintains a Buy rating on Sonoco Products (SON) but lowers the price target from $66 to $65.
April 04, 2024 | 4:13 pm
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Citigroup maintains a Buy rating on Sonoco Products but lowers the price target from $66 to $65.
The adjustment in price target by Citigroup reflects a slight modification in their valuation assessment of Sonoco Products. While the reduction in the price target could be perceived negatively, the maintenance of a Buy rating indicates a continued positive outlook on the company's fundamentals. This mixed signal might lead to a neutral short-term impact on the stock price as investors weigh the lowered price target against the sustained positive rating.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90