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Argus Downgrades Sonoco Products (SON) to Hold

December 9, 2016 8:42 AM EST
Get Alerts SON Hot Sheet
Price: $55.89 -1.93%

Rating Summary:
    5 Buy, 12 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 4 | New: 35
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Argus downgraded Sonoco Products (NYSE: SON) from Buy to Hold as shares have risen 25% over the last year and are trading near their all-time high.

"We have seen this pattern before, as investors have bid up the cyclical shares in advance of an earnings recovery, only to see them fall back as the business cycle has evolved," the analyst said.

The firm is lowering 2016 adjusted EPS estimate to $2.70 from $2.74.

For an analyst ratings summary and ratings history on Sonoco Products click here. For more ratings news on Sonoco Products click here.

Shares of Sonoco Products closed at $54.77 yesterday.



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