Greif price target lowered to $85 from $88 at Stifel

Stifel lowered the firm’s price target on Greif to $85 from $88 and keeps a Buy rating on the shares. Greif continues to see mixed levels of recovery in end markets, geographies and substrates as overall volumes are still down double-digits from normal historical levels, says the analyst. The midpoint of FY24 AEBITDA guidance of $700M can be reached with pricing actions already in place and without any additional volume recovery, but a full recovery back to 2022 volumes would push FY25 AEBITDA over $900M, the analyst estimates.