Sonoco Products price target lowered to $57 from $61 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on Sonoco Products to $57 from $61 and keeps a Hold rating on the shares. The firm estimates containerboard and consumer boxboard prices will be unchanged in March, but also estimates a $20 per ton decline on uncoated recycled board, the analyst tells investors. The firm has updated its paperboard pricing forecasts for the year and, as a result, updated its models for paperboard producers.