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UPDATE: JP Morgan Color on Crown Holdings Initiation

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JP Morgan, which initiated coverage of Crown Holdings Inc. (NYSE: CCK), is providing some color on the stock.

“While CCK is a consensus long (83% buys), it is hard to ignore the combination of above-average organic growth and shareholder friendly capital allocation, which should lead to continued strong EPS growth over the next several years,” JP Morgan writes.

“By 2013, CCK should be on track to gain 5-10 points of market share in key emerging markets such as Brazil and China, along with its dominant share in the Middle East and SE Asia, all of which should drive higher long-term earnings power and FCF generation once volumes are fully ramped.”

Crown Holdings closed Friday at $38.09.

 

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