Market Overview

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

Related Bery
Falling Oil Prices: A Boon For Plastic Packaging
#PreMarket Primer: Monday, November 24: Talks With Iran Unlikely To Yield A Deal

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
Dec 2014CitigroupMaintainsBuy
Dec 2014Bank of AmericaMaintainsBuy
Nov 2014Credit SuisseMaintainsOutperform

View More Analyst Ratings for BERY
View the Latest Analyst Ratings

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

 

Related Articles (BERY)

Around the Web, We're Loving...

Get Benzinga's Newsletters