Jefferies Cuts Price Target on Ball Corp. (BLL) Following 3Q
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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."
Shares of Ball Corp closed at $78.62 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
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