ACCO Brands' Long-Term Outlook Dims

ACCO Brands Corporation is downgraded to Sell with a $3.26 price target, reflecting debt concerns and macro headwinds. The recent EPOS acquisition expands ACCO's technology peripherals, but margin pressures from rising fuel and electricity costs persist. Leverage remains high at 4.11x net debt/aEBITDA, with $897mm debt and a significant 2029 maturity wall with limited cash and operational coverage.