Ball's Selloff Is 'Largely An Overreaction,' Says Bullish Analyst, Who Sees 'Resilient Volume Growth Despite Some Incremental Headwinds'
Portfolio Pulse from Priya Nigam
Ball Corp (NYSE:BALL) shares have declined by around 9% over the past month, but Truist Securities' analyst Michael Roxland sees this as an overreaction. Roxland upgraded Ball's rating from Hold to Buy and raised the price target from $67 to $76, citing resilient volume growth, strong free cash flow generation, and industry-leading capital return to shareholders.
June 25, 2024 | 4:50 pm
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Ball Corp's stock has declined by around 9% over the past month, but Truist Securities' analyst Michael Roxland upgraded the rating from Hold to Buy and raised the price target from $67 to $76. Roxland believes the selloff is an overreaction and sees resilient volume growth, strong free cash flow generation, and industry-leading capital return to shareholders as positive factors.
The upgrade from Hold to Buy and the increased price target from $67 to $76 by Truist Securities' analyst Michael Roxland is likely to positively impact Ball Corp's stock in the short term. The analyst's reasoning includes resilient volume growth, strong free cash flow generation, and industry-leading capital return to shareholders, which are strong indicators of the company's potential performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100