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Fly News Breaks for July 16, 2018
GEF
Jul 16, 2018 | 07:26 EDT
BofA/Merrill analyst George Staphos downgraded Greif to Underperform and cut its price target to $55 from $66. Staphos said Packaging & Paper/Forest stocks are positively correlated to the yield curve spread, and as it narrows, expects stocks to go up on earnings and fundamentals, not multiple expansion. The analyst now sees limited upside for Greif and notes dollar strength is also negatively correlated to share performance in the past.
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