Deutsche Bank Downgrades Greif Inc. (GEF) to Hold; Trimming FY12-13 EPS Estimates

March 2, 2012 7:32 AM EST
Get Alerts GEF Hot Sheet
Price: $52.54 -1.22%

Rating Summary:
    2 Buy, 6 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 33 | New: 34
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Deutsche Bank downgraded Greif Inc. (NYSE: GEF) from Buy to Hold, maintains price target of $52.00.

Deutsche analyst says, "We’re a bit cautious in the near-term. The 2 key issues are continued weakness in European demand and recent pricing pressure in Rigid Industrial Pkg. GEF is also pointing to “modest” margin drag in FY12H2 from start-up of Saudi Fiber Hub. Downgrading GEF from Buy to Hold. However, we’re making no change to our $52 PT. The stock is trading near our PT and we see no reason to raise the PT. We note that GEF’s cashflow is strong and dividend appears safe."

"We’re trimming FY12 EPS from $3.75 to $3.60, with F2Q = $0.76. FY13 EPS goes from $4.50 to $4.35. GEF’s FY12 cash tax rate =20%."

For an analyst ratings summary and ratings history on Greif Inc. click here. For more ratings news on Greif Inc. click here.

Shares of Greif Inc. closed at $49.82 yesterday.

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