Sonoco downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo downgraded Sonoco (SON) to Equal Weight from Overweight with a price target of $47, down from $52. The firm says that while 2025 turned into a more challenging year than it originally expected, Wells is still waiting for a catalyst that will drive a rebound. K-shaped economy remains the firm’s top concern as low-end consumer health remains poor. For Sonoco, Wells sees lack of catalysts to outrun sluggish start of year fundamentals.