Market Overview

UPDATE: Jefferies Reduces PT to $48 on Ball Corporation; CSD Demand Soft

Related BLL
Ball Aerospace Wins 5 General Services Administration Prime Contracts
Top 4 Stocks In The Packaging & Containers Industry With The Highest Revenue
Related BLL
Ball Corporation Attains 52-Week High on Market Expansion
Stocks Hitting 52-Week Highs

Jefferies reiterated its Buy rating on Ball Corporation (NYSE: BLL) but reduced its price target from $49 to $48 on checks indicating CSD demand has seen softness.

Jefferies noted, "[W]ith April and May being one of the wettest and coolest springs in Europe in years, our checks indicate CSD demand has been soft, but beer is holding up fairly well. Additionally, with demand in Brazil softening as well (flat volumes YTD), we are trimming our EPS estimates for 2012 from $3.10 to $3.05 and baking in some share leakage in its N.A. bev can business in 2013 (lowering to $3.39 from $3.65). We are reducing our price target to $48, which is based 8.8x 2012E EV/EBITDA."

Ball Corporation closed at $40.38 on Wednesday.

Latest Ratings for BLL

DateFirmActionFromTo
Sep 2014BMO CapitalInitiates Coverage onMarket Perform
Sep 2014BMO CapitalInitiates Coverage onMarket Perform
Aug 2014CitigroupDowngradesBuyNeutral

View More Analyst Ratings for BLL
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (BLL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters