Seaport Global analyst Mark Weintraub upgraded Sonoco Products to Buy from Neutral with a $65 price target. Following a pullback in stock, the valuation is "striking us as increasingly reasonable," the analyst tells investors in a research note. Given stabilization of URB prices in March, the outlook for industrial products is potentially shifting more positively while closure announcements cement URB as "the most favorably positioned of all North American paperboard grades from a new supply perspective," the analyst added.
Published first on TheFly
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