Market Overview

UPDATE: Jefferies Reduces PT to $48 on Ball Corporation; CSD Demand Soft

Share:
Related BLL
Earnings Scheduled For August 3, 2017
Why Is Ball Corp (BLL) Up 2.9% Since the Last Earnings Report?
Newtyn Management, LLC Buys Altaba Inc, Emerald Expositions Events Inc, Quality Care Properties ... (GuruFocus)

Jefferies reiterated its Buy rating on Ball Corporation (NYSE: BLL) but reduced its price target from $49 to $48 on checks indicating CSD demand has seen softness.

Jefferies noted, "[W]ith April and May being one of the wettest and coolest springs in Europe in years, our checks indicate CSD demand has been soft, but beer is holding up fairly well. Additionally, with demand in Brazil softening as well (flat volumes YTD), we are trimming our EPS estimates for 2012 from $3.10 to $3.05 and baking in some share leakage in its N.A. bev can business in 2013 (lowering to $3.39 from $3.65). We are reducing our price target to $48, which is based 8.8x 2012E EV/EBITDA."

Ball Corporation closed at $40.38 on Wednesday.

Latest Ratings for BLL

DateFirmActionFromTo
Aug 2017BarclaysMaintainsEqual-Weight
Jul 2017Deutsche BankMaintainsBuy
Mar 2017Goldman SachsInitiates Coverage OnNeutral

View More Analyst Ratings for BLL
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (BLL)

View Comments and Join the Discussion!