Market Overview

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

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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

DateFirmActionFromTo
Sep 2014BMO CapitalInitiates Coverage onOutperform
Sep 2014BMO CapitalInitiates Coverage onOutperform
Jun 2014Bank of AmericaDowngradesNeutralUnderperform

View More Analyst Ratings for ATR
View the Latest Analyst Ratings

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

 

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