Crown Holdings (CCK) PT Raised to $135 at BMO Capital

BMO Capital analyst Ketan Mamtora raised the price target on Crown Holdings (NYSE: CCK) to $135.00 (from $130.00) while maintaining an Outperform rating.

The analyst commented: "Healthy Global Bev Can Demand Drives Another Beat; Q2 was solid driven by 5% global bev can volume growth. CCK raised FY EPS guidance and remains constructive on demand trends in NA, Europe, and Asia. Capacity utilization remains tight. However, guidance incorporates some caution around post-World Cup normalization, soft BZ market, and inflationary pressures tied to Middle-East disruption - prudent, in our view. Strong balance sheet provides capital allocation flexibility. Raising near-term estimates. Maintain OP, but raising target to $135."

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