- Wells Fargo analyst Gabe Hajde raised the price target for Greif, Inc (NYSE:GEF) to $73 from $71 while maintaining the Overweight rating on the shares.
- The analyst increased the price target reflecting on what he believes to be the solid operational execution.
- Despite persistent supply chain challenges, Hajde is encouraged to see another quarter of solid operational execution.
- The analyst sees GEF staying aggressive commercially across all primary products to stay ahead of the cost curve.
- Related: Why Greif Shares Are Surging After Hours Today
- In the near term, Hajde believes volumes are running somewhat ahead of schedule in most locations and product categories (China the exception). Commentary on backlogs and industrial activity (pent-up automobile production) remains largely positive, while the GEF is cautious of increased recession concern.
- Lastly, assuming a healthy leverage profile, positive redeployment prospects should produce shareholder value over the long term, added the analyst.
- Price Action: GEF shares are trading lower by 6.09% at $60.89 on the last check Monday.
