Sonoco Products Price Target Raised to $54 as It Secures 140 MW Wind Power Pact
Truist Financial analyst Michael Roxland reaffirmed his Buy rating on Sonoco Products and raised its price target from $53 to $54, citing 2026 volume growth and planned price hikes. Sonoco also inked a 140 MW virtual power purchase agreement with Engie covering roughly 83% of its U.S. electricity needs in 2025.
1. Analyst Rating and Price Target Increase
Truist Financial analyst Michael Roxland reiterated a Buy rating on Sonoco Products and increased its price target from $53 to $54 based on favorable segment dynamics.
2. 2026 Volumetric Outlook
The 2026 packaging volume forecast remains modest overall but highlights expansion opportunities in select sub-segments, supported by strategically implemented price increases.
3. Wind Power Purchase Agreement
Sonoco Products executed a virtual power purchase agreement with Engie’s Big Sampson Wind Project, securing 140 MW of annual renewable electricity—covering roughly 83% of its 2025 U.S. energy consumption—and reinforcing its sustainability objectives.