These Analysts Boost Their Forecasts On Ball Following Earnings Beat
Portfolio Pulse from Avi Kapoor
Ball Corporation (NYSE:BALL) exceeded first-quarter earnings expectations with an adjusted EPS of 68 cents, surpassing the forecast of 56 cents. However, its quarterly sales of $2.87 billion fell short of the $3.24 billion estimate. Following the earnings beat, Ball's shares rose by 6.7% to close at $69.80. Analysts from Baird and Mizuho revised their price targets upwards, with Baird setting a new target of $70 and Mizuho at $69, both maintaining a Neutral rating.
April 29, 2024 | 1:16 pm
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Ball Corporation reported higher-than-expected Q1 earnings but missed sales estimates. Shares surged 6.7% following the announcement. Analysts from Baird and Mizuho raised their price targets to $70 and $69, respectively.
The positive earnings report and subsequent analyst upgrades are likely to instill investor confidence in Ball Corporation, potentially leading to a short-term uptick in its stock price. The company's focus on sustainable aluminum packaging and operational efficiencies further supports a positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100