Greif price target lowered to $71 from $72 at Truist

Truist lowered the firm’s price target on Greif (GEF) to $71 from $72 and keeps a Hold rating on the shares after its Q2 results. The company’s Volumes growth was still “challenging”, and its sale of containerboard and timberlands in aggregate should not be earnings dilutive as the combined EBIT loss should largely be offset by net interest and tax savings stemming from lower debt and greater cash on hand given the proceeds from both sales, the analyst tells investors in a research note.