In a report released yesterday, Ghansham Panjabi from Robert W. Baird downgraded Crown Holdings to a Hold, with a price target of $105.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Ghansham Panjabi has given his Hold rating due to a combination of factors that have influenced Crown Holdings’ recent performance. The company has experienced significant outperformance year-to-date, with its stock rising by 29% compared to the S&P 500’s 6% increase. This substantial growth has largely realized the benefits of the volume improvement and cost reduction strategies that were anticipated when the stock was upgraded in April 2024.
Given this context, Panjabi believes that the positive developments have already been reflected in the current stock price, and thus, he has adjusted the rating to Neutral to maintain future flexibility. The decision to maintain a $105 price target is based on a valuation of approximately 15 times the estimated earnings per share for 2025, which is projected to be $7.00. This approach allows for potential adjustments in response to ongoing market volatility and ensures that the investment strategy remains adaptable.
In another report released on July 11, Truist Financial also maintained a Hold rating on the stock with a $117.00 price target.
CCK’s price has also changed moderately for the past six months – from $85.210 to $106.370, which is a 24.83% increase.