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UPDATE: Jefferies Downgrades Ball Corporation to Hold on Valuation

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Jefferies downgraded Ball Corporation (NYSE: BLL) from Buy to Hold and maintained a $49.00 price target.

Jefferies commented, "Ball is one of the best managed and highest quality names under our coverage universe, but with the stock outperforming since August 17, 2010 (+61% vs S&P 500: +36%) and trading at (8.0x 2013E EV/EBITDA) a modest premium to its historical average, we believe the stock is fairly valued and downgrading it to a Hold. … Regardless, Ball is a great FCF / capital deployment story, and we would look for a pullback (low $40s) as a re-entry point. We would be more bullish on the stock if demand picked up in the N.A. beverage can market (Alcoa expects flat to down 1%) or the company finds some nice tuck-ins to reaccelerate EBITDA growth."

Ball Corporation closed at $46.31 on Thursday.

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 Downgrades Pre-Market Outlook Analyst Ratings

 

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