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Fly News Breaks for December 31, 2019
Dec 31, 2019 | 07:30 EDT
BMO Capital analyst Mark Wilde keeps his Market Perform rating and $56 price target on Sonoco after the company's annual Analyst Day presentation earlier this month. The analyst notes that the management has "repositioned" its targets of $6B in revenue and 16% EBITDA margin to 2020, even though these were initially rolled out for 2017, suggesting that Sonoco may be "running behind" on its earlier objectives. Wilde adds that the company is facing the headwinds of a cyclical easing in its industrial business and an "anti-plastics sentiment", but believes that these risks are reflected in Sonoco's valuation.