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UPDATE: Bank of America Initiates Berry Plastics at Buy on Growth Opportunities, Valuation

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Bank of America initiated coverage on Berry Plastics (NYSE: BERY) with a Buy rating and a $20 price objective.

Bank of America commented, "With forecast sales of $4.7bn-plus in F2012, BERY is a leading manufacturer of plastic packaging products, plastic films, specialty adhesives and coated products. Given its position and markets, BERY should grow more quickly than the industry on average. BERY went public at $16/share on October 4 and is majority owned by sponsor Apollo. … BERY's innovation pipeline could bring award opportunities with above average profitability. New products include an insulating polypropylene drink cup and an all plastic barrier package, both with good market penetration opportunities."

Berry Plastics closed at $13.88 on Monday.

Latest Ratings for BERY

DateFirmActionFromTo
Aug 2015Bank of AmericaMaintainsBuy
Aug 2015Goldman SachsDowngradesConviction BuyNeutral
May 2015BMO CapitalDowngradesOutperformMarket Perform

View More Analyst Ratings for BERY
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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