B of A Securities Downgrades Ball: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
B of A Securities has downgraded Ball Corporation (NYSE:BALL) from a previous rating to Underperform, with a new price target of $59.00, down from $61.00. Ball's shares are currently trading at $57.11, down 0.71% over the last 24 hours. The new price target suggests a potential upside of 3.31% from the current share price. Ball is a leading metal can manufacturer with significant market share and reported $15.3 billion in revenue for 2022.
January 02, 2024 | 5:00 pm
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NEUTRAL IMPACT
Ball Corporation was downgraded by B of A Securities to Underperform with a reduced price target of $59.00, which is still above the current trading price of $57.11.
The downgrade by B of A Securities could lead to a negative investor sentiment in the short term, potentially putting downward pressure on Ball's stock price. However, the new price target is above the current trading price, which may suggest limited upside potential. The impact is scored as neutral (0) due to the mixed signals: a downgrade suggesting caution, but a price target that still implies growth.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90