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UPDATE: Bank of America Upgrades Bemis Company to Buy on Macro Outlook

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Bank of America raises its rating on Bemis Company (NYSE: BMS) from Underpeform to Buy and maintains its $36 price objective on shares.

Bank of America notes, "We raise BMS to Buy from Underperform, with the expectation that it should be a good defensive investment. Why the move? Our overarching view has been that packaging and paper/forest growth should rebound after 4Q-1Q destocking. However, global economic data has been worsening including Friday's negative jobs report and China's drop in the PMI. As such, we are adding a bit more ballast to our recommended list until the overall economic outlook becomes clearer."

BMS closed at $30.99 on Thursday.

Latest Ratings for BMS

DateFirmActionFromTo
Sep 2014MacquarieMaintainsNeutral
Sep 2014BMO CapitalInitiates Coverage onMarket Perform
Sep 2014BMO CapitalInitiates Coverage onMarket Perform

View More Analyst Ratings for BMS
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Price Target Intraday Update Analyst Ratings

 

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