Wells Fargo Downgrades Sonoco Prods to Underweight, Lowers Price Target to $52
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Gabe Hajde has downgraded Sonoco Products (NYSE:SON) from Equal-Weight to Underweight and reduced the price target from $54 to $52.

August 21, 2024 | 12:30 pm
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Wells Fargo has downgraded Sonoco Products to Underweight and reduced its price target to $52, indicating a bearish outlook.
The downgrade from Equal-Weight to Underweight by a major financial institution like Wells Fargo suggests a negative outlook on Sonoco's stock. The reduction in the price target further supports this bearish sentiment, likely leading to a short-term decline in stock price.
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