Crown Holdings (CCK) PT Raised to $62 at Jefferies

Jefferies analyst Philip Ng reiterated a Buy rating and bumped estimates and his price target on Crown Holdings (NYSE: CCK) to $62.00 (from $57.00) following Q1 results.

Ng commented, "The company continues to execute at a high level driving good margin expansion, while benefiting from favorable secular growth trends globally. While margins are likely to remain depressed in NA Food, trends are improving in Brazil and the drag in China is better contained than expected. CCK continues to be one of our favorite high quality names and we believe FY guidance appears conservative."

The firm raised Q2 EPS from $1.05 to $1.10, FY 2016 EPS from $3.88 to $3.93 and FY 2017 EPS from $4.54 to $4.60.

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 $53.16 yesterday.

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