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Fly News Breaks for October 14, 2015
GEF
Oct 14, 2015 | 08:36 EDT
After Greif announced that its CEO was leaving, and the board promoted the COO to the CEO position, BMO Capital is upbeat on the change. The firm notes that Greif's stock had "consistently underperformed" under the prior CEO. The firm is encouraged by the board's decision to make a change and says that the new CEO is "well-regarded as an operator." BMO acknowledges that the company faces some uncertainty but it raised its price target on the name to $40 from $36 and keeps an Outperform rating on the shares.
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