Sonoco Products Co. (SON)
by Zacks Equity ResearchOctober 17, 2012 | Comments : 0 Recommended this article: (0)
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Furthermore, Sonoco has experienced lower-than-expected volume in many of its consumer and industrial businesses. Volatile raw material prices and uncertainty among its customers, given the slow recovery in the U.S and ongoing European weakness, higher pension costs remain headwinds for the company in fiscal 2012.
Accordingly, we have downgraded our recommendation on Sonoco from Neutral to Underperform. Our target price is $28 or 12.8x our 2012 EPS estimate.
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