Deutsche Bank Downgrades BWAY Corporation (BWY) to Hold
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Deutsche Bank downgrades BWAY Corporation (NYSE: BWY) from Buy to Hold.
Deutsche analyst says, "Despite weak volumes, Bway has demonstrated impressive ability to boost
performance in very tough conditions. However, the stock has appreciated over 20% since reporting better-than-expected F2Q09 results in early May. In our view the stock appears fairly valued. We are maintaining our $14 price target, but trimming our rating from Buy to Hold based on valuation...We are making no changes to our FY09 and FY10 Estimates (net of specials) of $1.07 and $1.15, respectively.
BWAY Holding Company (BHC) is a manufacturer and distributor of metal and plastic containers that are used primarily by manufacturers of industrial and consumer products for packaging.
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