Barrington Research Upgrades Greif Inc. (GEF) to Outperform; Positive on Position in Worldwide Industrial Packaging

Barrington Research upgraded Greif Inc. (NYSE: GEF)from Market Perform to Outperform, price target of $65.00.

Barrington analyst said, "We are increasing our rating following the Q1/12 earnings release due to our expectation that 2013 should be a better EBITDA year. The risk to our new investment rating is that we might be too early for the turn as softness in Europe continues to negatively impact GEF's 2012 sales and profits. Q1/12 sales were slightly below our forecast and EPS was approximately in line. Early Q2/12 signs of volume improvement, discussed on the conference call, could be the beginning of an inflection point."

"We are lowering our 2012 EPS to $3.35 from $3.38. Our Q2/12 EPS is being lowered to $0.65 from $0.78 due to the near-term challenges."

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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