BofA Securities analyst George Staphos maintains $Sonoco Products (SON.US)$ with a buy rating, and adjusts the target price from $66 to $71.
According to TipRanks data, the analyst has a success rate of 50.4% and a total average return of 5.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Sonoco Products (SON.US)$'s main analysts recently are as follows:
Packaging underperformed the S&P 500 by about 22% in 2024 while Paper/Forest declined a relative 7% with weakness in volumes an ongoing theme. Overall, there is a preference for Packaging over Paper/Forest.
In recent assessments, the performance of packagers lagged substantially during the previous year due to soft volumes and price-to-cost challenges that led to negative revisions in estimates. Nonetheless, a notable shift has been observed with packaging company CEOs now adopting a more urgent approach towards driving mergers and acquisitions.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
