UPDATE: Baird Downgrades AptarGroup (ATR) to Neutral
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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."
Shares of AptarGroup closed at $146.33 yesterday.
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