On Oct 22, major Wall Street analysts update their ratings for $Crown Holdings (CCK.US)$, with price targets ranging from $103 to $129.
Morgan Stanley analyst Stefan Diaz maintains with a hold rating, and adjusts the target price from $105 to $109.
Barclays analyst Michael Leithead maintains with a buy rating, and adjusts the target price from $100 to $112.
Wells Fargo analyst Gabrial Hajde maintains with a hold rating, and maintains the target price at $105.
Jefferies analyst Philip Ng maintains with a buy rating, and adjusts the target price from $120 to $125.
Loop Capital analyst Alton Stump maintains with a buy rating, and adjusts the target price from $120 to $129.
Furthermore, according to the comprehensive report, the opinions of $Crown Holdings (CCK.US)$'s main analysts recently are as follows:
The firm has revised its forecasts following stronger than anticipated Q3 results. It was noted that the secular growth theme in the beverage can sector is still considered a favorable market segment.
The firm acknowledges a third consecutive robust quarter, which should bolster the narrative and its valuation multiple. Crown Holdings is seen as a strong growth at a reasonable price opportunity, especially as it increases the deployment of surplus cash.
The firm maintains a positive outlook on Crown Holdings based on its relative valuation, robust volumes, enhanced returns, and the possibility for strategic moves over time. Although the company forecasts net interest expenses of $350M for the upcoming year, it is suggested that further repurchases may slightly increase this figure. The elevated estimates have resulted in a revised assessment.
The 'impressive' sharp Q3 EPS beat and better-than-expected volumes in North America and Europe have been acknowledged, along with a revised FY24 EPS view increased by 33c to $6.36 to reflect the company's improved operating leverage assumptions.
Crown Holdings is poised to consistently deliver on a competitive earnings algorithm, bolstered by the implementation of share repurchases.
Here are the latest investment ratings and price targets for $Crown Holdings (CCK.US)$ from 7 analysts:
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