KeyBanc Starts Crown Holdings (CCK) at Hold; Commendable, But Pressures Still Exist

KeyBanc initiates coverage on Crown Holdings (NYSE: CCK) with a Hold.

Analyst, Adam J. Josephson, said, "We are initiating coverage of Crown Holdings with a HOLD rating for a few reasons: 1) our EPS estimates are slightly below consensus in 2012 and 2013; 2) the stock is trading slightly above its three-year average multiples of EPS, EBIT and EBITDA; 3) we do not expect much multiple expansion given our view that industry conditions are unlikely to significantly improve and that we expect a meaningful percentage of EPS growth over the next two years to come from share buybacks; and 4) we do not foresee investor sentiment getting much better than it already is."

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 $36.40 yesterday.

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