Greif price target raised to $80 from $78 at Wells Fargo

Wells Fargo raised the firm’s price target on Greif to $80 from $78 and keeps an Overweight rating on the shares. The firm says that “although choppy,” Greif’s raised fiscal 2024 EBITDA guidance is emblematic of sequentially improving fundamentals in Global Industrial Packaging, a firming recovery in Paper Packaging Services and an “excellent cost containment/execution story.” Wells is growing more constructive on the view that the company is entering early stages of an upcycle, with volumes inflecting higher in Q2.