BofA/Merrill Lynch Upgrades Greif Inc. (GEF) Two-Notches to Buy

BofA/Merrill Lynch upgraded Greif Inc. (NYSE: GEF) from Underperform to Buy with a price target of $61.00 (from $54.00).

Analyst George Staphos notes GEF has lagged the market in 2013 by 12%, and it is down another 2% year-to-date. Recent actions by the company suggest performance should be improving.

Staphos describes GEF as a relatively unloved cyclical stock that should offer investors exposure to: A recovering global economy; North America's shale gas/energy boom and manufacturing renaissance; Continued self-help measures.

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 $53.61 yesterday.

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