Greif price target lowered to $64 from $67 at Wells Fargo

Wells Fargo lowered the firm’s price target on Greif to $64 from $67 and keeps an Equal Weight rating on the shares. Wells views Greif’s low-end guidance for FY24 as a bit of a “red herring,” given the pending containerboard price increase, early signs of a modest volume recovery and ongoing self-help, but timing a sustained industrial economy recovery remains challenging, the analyst tells investors in a research note.