Jefferies Starts Berry Plastics Group (BERY) at Buy

October 13, 2016 6:46 AM EDT
Get Alerts BERY Hot Sheet
Price: $43.34 -4.05%

Rating Summary:
    12 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 27 | New: 7
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Jefferies initiates coverage on Berry Plastics Group (NYSE: BERY) with a Buy rating and a price target of $52.00.

Analyst Philip Ng commented, "We are initiating coverage on BERY with a Buy, driven by the strong FCF (10% FCF yield), and as it de-levers and returns cash back to shareholders, it should narrow the discount to peers, and it could be up 41% as it re-rates. With BERY buying 80% more resin following Avintiv & AEP, coupled with significant resin capacity coming online, the increased buying power should drive margins higher, and the synergies from AEP should surprise to the upside."

For an analyst ratings summary and ratings history on Berry Plastics Group click here. For more ratings news on Berry Plastics Group click here.

Shares of Berry Plastics Group closed at $44.12 yesterday.

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