Analyst Actions: Sonoco Products Ests and PT Lowered At Credit Suisse; "Tepid" Growth Offsets Div Yield; Shares Edge Down

By Staff,

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Analysts at Credit Suisse have lowered their earnings estimates and price target on shares of Sonoco Products ( SON ), while maintaining its Neutral rating.

"Sonoco management acknowledged a sluggish and generally uncooperative macro environment and anticipates 2% US GDP growth next year (in-line with Credit Suisse economists)," said Credit Suisse in its report. "SON shares tend to perform best when the company's industrial businesses are meaningfully accelerating and driving strong operating leverage; we expect this should largely remain absent in 2013."

The firm lowered its 2013/2014 EPS estimates on SON to $2.29/$2.43 from $2.43/$2.58. The price target was lowered to $32 from $33 a share.

SON is down 0.27% to $29.68 in afternoon trading within a 52-week range of $28.61 - $34.83.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: SON

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