Analyst Gabrial Hajde of Wells Fargo maintained a Sell rating on Ball (BALL – Research Report), retaining the price target of $44.00.
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Gabrial Hajde’s rating is based on Ball Corporation’s potential increased capital expenditures due to its investment plans in North Carolina. The company plans to invest over $383 million in a new beverage can plant to support Red Bull’s expansion in the region. This significant outlay could lead to higher capital expenditure in the years 2026 and 2027.
Additionally, the decision to potentially idle two lines at its Fort Worth, Texas facility suggests a shift in production focus. Despite the new capacity seemingly dedicated to Red Bull, there is no expected increase in supply to the broader domestic market. These strategic moves, coupled with the financial implications, contribute to a cautious outlook, justifying the Sell rating.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BALL in relation to earlier this year.