Deutsche Bank Downgrades Sonoco Products (SON) to Hold; Lowering PT & Estimates

Deutsche Bank downgraded Sonoco Products (NYSE: SON) from Buy to Hold, price target cut $3 to $33.00.

Deutsche analyst says, "We’re more cautious. Near-term fundamentals appear weak, especially in Industrial Pkg. Vol's have slowed in the past 4-6 weeks. SON could also get hit by Tegrant’s protective pkg exposure. It's hard to argue a ST catalyst for SON. At current levels, we think the stock is fairly valued. Est's: 4Q remains @ $0.58. FY12 trimmed from $2.55 to $2.50."

For more ratings news on Sonoco Products click here and for the rating history of Sonoco Products click here.

Shares of Sonoco Products closed at $30.57 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Deutsche Bank Downgrades Qifu Technology (3660:HK) (QFIN) to Hold
• Citizens Downgrades Accelerant Holdings (ARX) to Market Perform
• RBC Capital Downgrades CareTrust REIT (CTRE) to Sector Perform