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Wells Fargo Upgrades Sonoco Products Stock and Raises Price Target to 55

Wells Fargo has upgraded Sonoco Products Company (NYSE: SON) to "Overweight" from "Underweight" and raised its price target to $55 from $45, citing the company's progress in simplifying its business model and strong market positions in key packaging areas. The firm notes that Sonoco's stock valuation is below historical averages, with a clear path to increased profits. Additionally, the company has improved its balance sheet by using proceeds from the sale of its Thermoformed and Flexibles Packaging business to reduce debt, aiming for a net leverage ratio of 3.0x - 3.3x by the end of 2026.
Yahoo Finance
Sonoco Products Company Corp. USA Gabe Hajde
Business & Industry, News Article
09:58 24.05.2025
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