Reynolds Consumer Products Inc. (REYN) PT Lowered to $26 at Canaccord Genuity

Canaccord Genuity analyst Brian McNamara lowered the price target on Reynolds Consumer Products Inc. (NASDAQ: REYN) to $26.00 (from $27.00) while maintaining a Hold rating.

The analyst commented: "Before the market opened this morning, Reynolds Consumer Products (REYN) reported Q1 results that were modestly below expectations on both sales and profitability. With that, unanticipated retailer destocking and tariff impacts have tempered expectations, resulting in full-year guidance being revised lower and Q2 guidance coming in below expectations. Although we could become more constructive when evidence emerges that sustainable volume growth is returning and/or margins become less volatile, the current environment presents another hurdle. Having cut numbers ahead of the results, our full-year profitability estimates remain relatively unchanged, while the quarterly cadence has been adjusted. We reiterate our HOLD rating but lower our PT to $26 ($27 prior) driven by decreased estimates."

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