KeyBanc Maintains a 'Buy' on Silgan Holdings (SLGN); Sweet, Sweet Corn
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Price: $42.39 +3.09%
Rating Summary:
17 Buy, 5 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 5 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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KeyBanc maintains a 'Buy' on Silgan Holdings (NASDAQ: SLGN) price target of $48.00.
Analyst, Adam J. Josephson, said, "On its 2Q12 call, Silgan Holdings Inc. (SLGN-NASDAQ) discussed the potentially significant impact that the outcome of the sweet corn crop in the Midwest could have on its 2H results. Management talked about the risk to pack volumes this season if the adverse growing conditions in the Midwest persisted. SLGN assumed that the processed tomato crop (tomatoes account for approximately 5% of SLGN’s U.S. food can volume) would not be affected by bad weather, and our research indicates that management was right not to be concerned. Almost all (95%) of U.S. processed tomatoes are grown in California, and an article recently posted on the California Tomato Growers Association’s website said that U.S. output is expected to be up 6% this year. Regarding the sweet corn crop (sweet corn accounts for slightly under 5% of SLGN’s U.S. food can volume), recent indications are positive."
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 $41.65 yesterday.
Analyst, Adam J. Josephson, said, "On its 2Q12 call, Silgan Holdings Inc. (SLGN-NASDAQ) discussed the potentially significant impact that the outcome of the sweet corn crop in the Midwest could have on its 2H results. Management talked about the risk to pack volumes this season if the adverse growing conditions in the Midwest persisted. SLGN assumed that the processed tomato crop (tomatoes account for approximately 5% of SLGN’s U.S. food can volume) would not be affected by bad weather, and our research indicates that management was right not to be concerned. Almost all (95%) of U.S. processed tomatoes are grown in California, and an article recently posted on the California Tomato Growers Association’s website said that U.S. output is expected to be up 6% this year. Regarding the sweet corn crop (sweet corn accounts for slightly under 5% of SLGN’s U.S. food can volume), recent indications are positive."
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 $41.65 yesterday.
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