Jul. 20 at 8:45 PM
Bank of America rates Crown Holdings a Buy with a
$145 price target versus its recent
$112 share price, implying approximately 30% upside. The firm identifies Crown as its preferred beverage can company, citing healthy global demand for aluminum cans, attractive valuation, and strong free cash flow generation. Analysts also expect major sporting events, including the FIFA World Cup, to provide an additional catalyst for beverage consumption and packaging volumes over the coming quarters.
Crown reported first-quarter adjusted EPS of
$1.86, beating both analyst estimates and management's guidance, reflecting solid operating performance across its packaging businesses. Following the results, JPMorgan upgraded the stock to Overweight, citing improving supply-demand dynamics in the beverage can industry and favorable industry fundamentals that could support earnings growth going forward.
$CCK