UPDATE: Goldman Sachs Starts Ball Corp (BLL) at Buy, 'Differentiated organic growth profile with sustainability tailwinds'

April 9, 2021 2:25 AM EDT
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Price: $90.07 +0.22%

Rating Summary:
    11 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 19 | New: 37
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(Updated - April 9, 2021 3:54 AM EDT)

Goldman Sachs analyst Adam Samuelson initiates coverage on Ball Corp (NYSE: BLL) with a Buy rating and a price target of $98.00.

The analyst comments "BLL is the largest global aluminum beverage can (BevCan) producer, with ~85% of 2020 sales attributed to its BevCan businesses. The company has experienced an unprecedented wave of demand growth as new product launches and demand for non-traditional beverage categories has spurred growth in North and Central America; sustainability-driven packaging innovations and shifting consumer preferences drove growth in Europe; and improved consumer mobility and substrate shifts out of reusable (two-way) glass has improved demand in South America. With the company on track to deploy an additional 25bn units (24%) of capacity over between 2020-2023, and incremental capacity committed to existing customers under multi-year contracts, we believe the company is poised to grow EBITDA at a 13% CAGR between 2020-23."

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

Shares of Ball Corp closed at $87.63 yesterday.

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