Goldman Sachs lowered the firm’s price target on Reynolds Consumer Products to $29 from $31 and keeps a Neutral rating on the shares. The company’s Q4 results came in slightly better than expected, as margin expansion offset top-line declines from volume pressure, and the volumes declines are expected to continue through 2024, particularly in the non-retail business where the company saw weakness from industrial customers during the quarter, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on REYN:
- A New Cause for Concern: Reynolds Consumer Products Inc Adds a New Accounting & Financial Operations Risk
- Reynolds Consumer Products sees FY24 EPS $1.57- $1.65, consensus $1.60
- Reynolds Consumer Products sees Q1 EPS 21c-23c, consensus 21c
- Reynolds Consumer Products sees FY24 revenue $3.5B-3.64B, consensus $3.75B
- Reynolds Consumer Products reports Q4 EPS 65c, consensus 62c
