BofA analyst George Staphos raised the firm’s price target on Sonoco (SON) to $62 from $60 and keeps a Buy rating on the shares. Sonoco is valued at a very depressed growth outlook, and a pickup in economic activity should help valuation, fundamentals, and support company-specific positives, the analyst tells investors in a research note. Sonoco’s cyclical and self-induced headwinds should improve in industrial markets and Europe, and as M&A factors play out, the firm says.
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