Sonoco Products price target lowered to $55 from $58 at Baird

Baird lowered the firm’s price target on Sonoco Products (SON) to $55 from $58 and keeps a Neutral rating on the shares. The firm noted when the company completes its portfolio swap, Sonoco will be a global metal/paper packager on a pro-forma basis, with the company sitting on a good track record of delivering on the operations over the years, which reduces execution risk.