Truist lowered the firm’s price target on Sonoco (SON) to $53 from $54 and keeps a Buy rating on the shares as part of a broader research note on Packaging and Paper/Forest Product names. The firm is updating its models after having caught up with companies under coverage to discuss quarterly trends, the analyst tells investors in a research note. Q2 appears to have been a mixed bag overall, with can-makers performing well, while other packaging names have suffered from a persistently weak consumer, tariff uncertainty, and one-off events, Truist added.
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