Sonoco Products price target lowered to $60 from $68 at Truist

Truist lowered the firm’s price target on Sonoco Products (SON) to $60 from $68 and keeps a Buy rating on the shares. The firm cites the company’s Q4 earnings miss but notes that Q4 results and 2025 guidance were messy given the numerous completed, ongoing, and forthcoming corporate actions the company is pursuing as it transforms into a simpler, more streamlined, and more consumer-focused business, the analyst tells investors in a research note. Sonoco has made significant progress however, including closing the Eviosys transaction in early December, announcing the sale of Thermoformed & Flexible Packaging in mid-December, and continuing to pursue a divestiture of its ThermoSafe business, which should conclude by year-end, the firm adds.