UPDATE: Credit Suisse Initiates Berry Plastics Group at Outperform on Valuation, Outlook
Credit Suisse initiated coverage on Berry Plastics Group (NYSE: BERY) with an Outperform rating and a $20 price target.
Credit Suisse commented, "We favor Berry given (1) the company's strong and stable FCF profile; (2) discounted valuation relative to peers; (3) attractive margins and profitability metrics; (4) ability to leverage its unique product portfolio breadth across plastic packaging, which continues to gain share as a substrate; and (5) a promising product pipeline that could generate additional upside. Moreover, Berry has a strong track record generating value via M&A/synergy realization, and future consolidation opportunities remain robust in what remains a fragmented competitive landscape."
Berry Plastics Group closed at $13.88 on Monday.
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Tags: Credit Suisse