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UPDATE: Bank of America Reduces PO to $56 on AptarGroup Post Negative Pre-Announcement

Related ATR
AptarGroup Declares Cash Dividend Of $0.30 A Share
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Bank of America reiterated its Neutral rating on AptarGroup (NYSE: ATR) and lowered its price objective on shares from $58 to $56.

Bank of America commented, "This morning ATR announced it expects 2Q12 EPS to be $0.60-0.62, down from prior guidance of $0.70-0.75. The preannounce was caused by weaker than expected sales volume in Europe (~$0.05 using the guidance midpoints), a weaker Euro relative to the US$ versus previous expectations (~$0.02), and transaction costs related to the previously announced acquisition of Stelmi Group (~$0.05)."

AptarGroup closed at $48 on Friday.

Latest Ratings for ATR

Jan 2016BairdDowngradesOutperformNeutral
Nov 2015BairdInitiates Coverage onOutperform
Nov 2015MacquarieInitiates Coverage onNeutral

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


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