Jefferies Lowers PT and Estimates on Crown Holdings (CCK); Good Discipline, But Continued Softening in Europe

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Jefferies maintains a 'Buy' on Crown Holdings (NYSE: CCK) price target of $42.00 (from $44.00).

Analyst, Philip Ng, said, "While Europe is slowing, the more important takeaway following a series of investor meetings with Tim Donahue (CFO) is FCF remains strong and should accelerate sharply in 2013. With mgmt's recent comments signaling that it's taking a more balanced approach towards growth and returning cash to shareholders, it should appease the market and help close the gap on its relative underperformance with its peers."

FY12 EPS estimate lowered from $3.03 to $2.91 and FY13 from $3.77 to $3.49.

For an analyst ratings summary and ratings history on Crown Holdings click here. For more ratings news on Crown Holdings click here.

Shares of Crown Holdings closed at $34.49 yesterday, with a 52 week range of $28.68-$39.63.

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