Truist lowered the firm's price target on Sonoco to $65 from $68 and keeps a Buy rating on the shares after its Q1 results. The company still anticipates y/y earnings growth in Q2 despite the inflationary backdrop, though the firm believes that the weaker volume results, softer Americas Consumer conditions, and inflation commentary contributed to the stock's 16.2% decline on the day of reporting, the analyst tells investors in a research note.
