Jefferies Cuts Price Target on Ball Corp. (BLL) Following 3Q

November 8, 2016 7:46 AM EST
Get Alerts BLL Hot Sheet
Price: $75.61 -1.78%

Rating Summary:
    7 Buy, 9 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Jefferies maintained a Buy rating on Ball Corp (NYSE: BLL), and cut the price target to $93.00 (from $94.00), following the company's 3Q earnings report. Management's recent commentary suggests it's taking a more aggressive stance on leading the market on pricing, and is adopting a value over volume approach, particularly in NA and Europe.

Analyst Philip Ng commented, "The integration of Rexam is progressing well, and we have been encouraged by mgmt's commentary on taking a more proactive stance in market leadership in pricing. While BLL remains a 2017/18 story, we have higher conviction in its ability to unlock synergies and drive WC savings."

For an analyst ratings summary and ratings history on Ball Corp click here. For more ratings news on Ball Corp click here.

Shares of Ball Corp closed at $78.62 yesterday.

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