Greif initiated with a Hold at Truist

Truist analyst Michael Roxland initiated coverage of Greif with a Hold rating and $71 price target. The company, which produces rigid industrial packaging products, is an industrial cycle “show-me” story given its history, valuation and limited capital return, the analyst tells investors. In addition to “poor historical execution” and its need to acquire higher-growth, higher-margin businesses in order to margin-up, the firm says Greif has been “conservative in returning capital to Class A shareholders.”