JP Morgan lowers its rating on Ball Corporation BLL from Overweight to Neutral and reduces its price target from $45 to $44.
JP Morgan comments, "BLL has been a consistently strong performer, a function of solid growth, margin improvement and capital deployment decisions. We feel, however, that the market is giving ample credit to BLL, and with shares currently trading at a fair valuation. Looking to 2013, we see continued EBIT growth, albeit at a slower rate than 2012. Recent currency weakness (Euro, Real) present an incremental headwind (albeit more modest than peers). All in, we now feel that BLL's strong track record is represented in current valuation, so we are moving to N from OW."
BLL closed at $41.64 on Friday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in