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UPDATE: JP Morgan Upgrades AptarGroup to Overweight; Selloff on Q3 Miss Overdone

Related ATR
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JP Morgan raised its rating on AptarGroup (NYSE: ATR) from Neutral to Overweight but lowered its price target from $62 to $61.

JP Morgan commented, "ATR's stock was down ~7% on the 3Q12 earnings miss (S&P -1%) and below consensus 4Q guidance. … While we are modestly tweaking down our estimates and price target, we think the stock reaction was overdone on what amounts to $0.10 (~3%) reduction to our 2014E EPS. With shares now at only a 2% premium on 2014E, versus our ~10% premium target, we are upgrading shares to Overweight from Neutral, as we believe that the long-term franchise value of ATR remains intact despite the near-term challenges."

AptarGroup closed at $49.49 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: JP MorganAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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