Ahead Of The Bell: Greif Shares Edge Up

NEW YORK (AP) — Two analysts are reaffirming "Buy" ratings on Greif Inc. shares a day after the industrial packaging maker reported adjusted third-quarter earnings that beat Wall Street expectations.

The Delaware, Ohio, company also narrowed its fiscal 2009 guidance to a range of $3.25 per share to $3.50 per share from a range of $3.25 per share to $3.75.

Analysts polled by Thomson Reuters expect full-year earnings of $3.30 a share.

KeyBanc analyst Christopher D. Manuel and Janney analyst Ryan C. MacLean each reiterated "Buy" ratings on the stock.

Manuel said the earnings and revised outlook were modestly better than expected and added that "favorable commentary in the (company's earnings news) release regarding the volume and cost savings trajectory" was encouraging.

MacLean said the earnings showed a "good degree of sequential improvement."

In premarket trading, shares rose 45 cents to $48.65.