UPDATE: Barclays Upgrades Crown Holdings (CCK) to Overweight; Inherent Risk Dropped

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(Updated - June 29, 2012 12:42 PM EDT)

Barclays upgraded Crown Holdings (NYSE: CCK) from Equalweight to Overweight, price target raised from $40 to $43.

Analyst, Scott L. Gaffner, said he launched coverage on CCK at EW, citing volatility in the company's aggressiver expansion strategy. The upgrade to reveal the risk associated with the strategy has come down. Gaffner sees increased upside potential and notes the valuation gap is at its widest levels vs. Ball Corp (NYSE: BLL).

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 $33.78 yesterday, with a 52 week range of $28.68-$39.63.

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