Greif price target lowered to $65 from $71 at Truist

Truist lowered the firm’s price target on Greif (GEF) to $65 from $71 and keeps a Hold rating on the shares. In the absence of increased demand, the company has turned to cost-out to drive improvement, the analyst tells investors in a research note. Greif’s Sustainable Fibers Solutions significantly underperformed the firm’s model despite higher y/y volumes and price mix, though it slightly surpassed company expectations with the disconnect largely being driven by higher allocation of SG&A, the firm added.