Jefferies More Positive on Sonoco (SON), Boosts Numbers
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Price: $59.01 +1.17%
Rating Summary:
8 Buy, 11 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 11 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Sonoco Products (NYSE: SON) is slightly higher Monday which could be related to positive comments at Jefferries, which said it is getting more constructive on the stock following investors meetings.
The firm raised estimates and its price target from $35 to $37, although they maintained a Hold rating.
Jefferies analyst commented, "Following a series of investor meetings with Sonoco, we are getting more constructive on the stock due to the increased visibility on demand and mgmt's tone was generally upbeat. While we are maintaining our Hold rating largely due to valuation, we would use any pullback to increase positions and believe Consensus estimates are biased to the upside."
They raised FY12 EPS from $2.35 to $2.40 and FY13 from $2.63 to $2.70.
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 are up 0.8 percent mid-day to $34.17.
The firm raised estimates and its price target from $35 to $37, although they maintained a Hold rating.
Jefferies analyst commented, "Following a series of investor meetings with Sonoco, we are getting more constructive on the stock due to the increased visibility on demand and mgmt's tone was generally upbeat. While we are maintaining our Hold rating largely due to valuation, we would use any pullback to increase positions and believe Consensus estimates are biased to the upside."
They raised FY12 EPS from $2.35 to $2.40 and FY13 from $2.63 to $2.70.
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 are up 0.8 percent mid-day to $34.17.
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