Jefferies Raises price Target on Berry Plastics Group (BERY) to $59
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Jefferies reiterated a Buy rating on Berry Plastics Group (NYSE: BERY), and raised the price target to $59.00 (from $52.00), following the company's 4Q earnings report.
Analyst Philip Ng commented, "BERY is on track to grow FCF >60% in FY16-FY18E as it integrates Avintiv and AEP, and with mgmt. taking a conservative approach to guidance, we believe there is upside to guidance. With mgmt. laser-focused on hitting its leverage targets in FY17, it should help bridge the valuation gap with peers, and we reiterate our Buy rating."
Shares of Berry Plastics Group closed at $49.94 yesterday.
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