Wells Fargo Resumes Coverage on Silgan Holdings (SLGN) at Outperform; Acquisitions And/Or Share Repurchase Represent Upside Catalysts

Wells Fargo resumes coverage on Silgan Holdings (NASDAQ: SLGN) with a Outperform. PT range $44-$46.

Wells analyst said, "Our thesis on SLGN is based on our belief there are multiple value creating opportunities to materialize over the next 12-18 months, including: (1) A favorable levering event (an acquisition or one-time repurchase could add $0.20+ to EPS); (2) food can contract restructuring that will likely lead to higher margins; (3) improvements in plastics performance; and (4) capital reinvestment into incremental return-oriented projects (easy-open ends, European food can expansions, etc)."

Wells Fargo establishes 2011, 2012, and 2013 EPS estimates at $2.61, $2.95, and $3.20, respectively.

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

Shares of Silgan Holdings closed at $40.14 yesterday.

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