Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivani Kumaresan

Seaport Global Downgrades Sonoco Products - Read Why

SON (Organization) Sonoco Seaport Global NYSE Sonoco Products Co
  • Seaport Global analyst Mark Weintraub downgraded Sonoco Products Co (NYSE: SON) to Neutral from Buy.
  • The analyst noted Sonoco’s stock price has been catching up with his view of company value, returning 19%+ since the Feb 11 report.
  • The analyst added that Sonoco has rallied past its previous price target of $66. Consequently, Weintraub has stepped to the sidelines for now.
  • Meanwhile, Weintraub raised the FY22 estimate by 9% to $5.45, to the top end of the company’s revised guidance.
  • Sonoco reported revenue of $1.77 billion for the first quarter, beating the consensus of $1.74 billion.
  • Price Action: SON shares are trading lower by 4.25% at $63.97 on the last check Friday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Dick Van Dyke makes rare social media appearance to endorse US Presidential candidate
'Mary Poppins' star Dick Van Dyke, 98, has made a rare social media appearance to pledge his support to Kamala Harris in the US Presidential race, and he did so by reciting a speech he delivered alongside Martin Luther King Jr. at a 1964 civil rights event.
BANG Premier
BANG Premier
Rihanna Showed Off Her Glossy Waves With The Blunt Bob of My Dreams
Fall hair inspiration at its finest.
Marie Claire
Marie Claire
Keanu Reeves confesses to throwing up during John Wick stunts
Keanu Reeves has revealed that he relished the challenge of filming the 'John Wick' movies.
BANG Premier
BANG Premier
Quincy Jones changed my life, says Oprah Winfrey
Oprah Winfrey has explained how Quincy Jones changed the course of her life.
BANG Premier
BANG Premier
Coca-Cola brings back nostalgic Mexican soft drink
Coca-Cola makes a major announcement about bringing back a beloved Mexican soft drink to U.S. stores.
The Street
The Street
Influencer Who Filmed 'Hot Take' Interview with Kamala Harris Reveals Why He Never Published It
Influencer Kareem Rahma declined to publish his interview with Kamala Harris, finding it "boring."
Latin Times
Latin Times
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play