Bank of America Securities analyst George Staphos has maintained their bullish stance on SON stock, giving a Buy rating on February 23.
George Staphos has given his Buy rating due to a combination of factors including Sonoco Products’ promising start in terms of volume and productivity, as well as its strategic initiatives. The company has shown resilience in managing tariffs, with a strong supply of necessary materials and the ability to pass on costs. Additionally, Sonoco is making strides in optimizing its operations outside of North America, which is expected to improve margins significantly.
Furthermore, the company is exploring growth opportunities in paper solutions, particularly in Europe, where there is increasing demand. Sonoco’s strategic moves, such as the Eviosys transaction and other packaging innovations, are anticipated to enhance its market position. The potential for cyclical improvement and the company’s ability to leverage its product offerings into new markets further support the Buy rating.
In another report released on February 23, Truist Financial also maintained a Buy rating on the stock with a $60.00 price target.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is neutral on the stock.