Wells Fargo lowered the firm’s price target on Greif to $76 from $80 and keeps an Overweight rating on the shares. Ahead of the company’s Q3 report, the firm expects forward commentary will be more optimistic given the recent $40/ton cboard and $20/ton URB price hikes. Further, with a pending September rate cut, the firm believes an industrial recovery is near, especially post-election.
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