Wells Fargo Resumes Coverage on Sonoco Products (SON) at Market Perform; Current Valuation Levels Reflect Balanced Risk/Reward Scenario

Wells Fargo resumes coverage on Sonoco Products (NYSE: SON) with a Market Perform. PT $35.00.

Wells analyst says, "We believe SON is a fundamentally solid company with leading market positions in selected consumer and industrial end markets it serves and an attractive dividend yield. However, an impending slowdown in the North American and/or European economies threatens demand for Sonoco's industrial products over the near-term. As global economic uncertainty continues to mount, we believe investors need to seek out company-specific catalysts to differentiate packaging stocks. At this time, we believe the positive catalysts for SON are well known and current valuation levels reflect a balanced risk/reward scenario."

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 $31.93 yesterday.

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