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Fly News Breaks for February 18, 2020
SON
Feb 18, 2020 | 07:22 EDT
Argus analyst David Coleman downgraded Sonoco to Hold from Buy after its Q4 earnings miss and lowered FY20 guidance reflecting the impact of coronavirus and lower prices for corrugated medium, along with weaker demand for paper. The analyst believes that a neutral rating is more appropriate given the current company and industry challenges, though he remains positive on the stock over the long term and intends to monitor the industry conditions for signs of improving fundamentals.