From Yahoo Finance: 2025-05-24 03:58:00

Wells Fargo upgraded Sonoco Products Company (SON) stock to “Overweight” from “Underweight” on May 23, raising the price target to $55 from $45. The company’s simplification efforts are progressing well with a focus on fewer but larger businesses. Sonoco remains attractive due to its valuation, profit potential, and strong leadership positions in key packaging areas.

Sonoco Products Company (SON) has strengthened its balance sheet by selling its Thermoformed and Flexibles Packaging business, using proceeds to reduce debt. The net leverage ratio is now below 4.0x Net Debt/Adjusted EBITDA, targeting 3.0x – 3.3x by 2026. The company designs, develops, manufactures, and sells various sustainable packaging products.

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Read more at Yahoo Finance: Wells Fargo Upgrades Sonoco Products (SON) Stock, Lifts PT