Reynolds Consumer Products price target lowered to $23 from $26 at UBS

UBS analyst Peter Grom lowered the firm’s price target on Reynolds Consumer Products (REYN) to $23 from $26 and keeps a Neutral rating on the shares. The firm thinks Q1 results for much of the consumer staples group will be “okay” as organic revenue growth will show signs of improvement and stabilization, though the issue centers on how companies will handle forward looking commentary as inflation is likely to pose a greater risk to earnings in the second half and potentially beyond, the analyst tells investors in a preview for the group.