Brian McNamara, an analyst from Canaccord Genuity, maintained the Hold rating on Reynolds Consumer Products (REYN – Research Report). The associated price target was lowered to $26.00.
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Brian McNamara has given his Hold rating due to a combination of factors impacting Reynolds Consumer Products. The company’s recent quarterly results fell short of expectations in terms of both sales and profitability. This underperformance was influenced by unexpected retailer destocking and the effects of tariffs, which have led to a downward revision in the company’s full-year guidance and a lower-than-expected outlook for the next quarter.
Despite these challenges, McNamara notes that the company’s full-year profitability estimates remain relatively stable, although adjustments have been made to the quarterly projections. He suggests that a more positive outlook could be warranted if there are signs of sustainable volume growth or stabilization in margins. However, given the current market conditions and uncertainties, he maintains a Hold rating and has adjusted the price target from $27 to $26.
According to TipRanks, McNamara is an analyst with an average return of -7.2% and a 41.53% success rate. McNamara covers the Consumer Cyclical sector, focusing on stocks such as Yeti Holdings, Solo Brands, and Rollins.
In another report released today, RBC Capital also maintained a Hold rating on the stock with a $25.00 price target.