UPDATE: Baird Downgrades AptarGroup (ATR) to Neutral

April 14, 2021 4:00 AM EDT
Get Alerts ATR Hot Sheet
Price: $153.54 -0.7%

Rating Summary:
    4 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 4 | New: 24
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(Updated - April 14, 2021 6:23 AM EDT)

Baird analyst Ghansham Panjabi downgraded AptarGroup (NYSE: ATR) from Outperform to Neutral with a price target of $150.00.

The analyst comments "Commensurate with our 1Q21 earnings preview, we are lowering our rating on the shares of AptarGroup to Neutral, noting that our $150 price target is based on a healthy 30x P/E valuation multiple and $5+/sh of earnings power (likely in 2023)—with upside accordingly limited based on recent outperformance. More broadly, our current preference from a recommendation standpoint is biased towards names that have purer exposure towards Reflation and Mobility variances."

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

Shares of AptarGroup closed at $146.33 yesterday.

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