Raymond James lowered the firm’s price target on AptarGroup (ATR) to $175 from $190 and keeps an Outperform rating on the shares. The firm revised estimates for Packaging companies under coverage ahead of earnings with its estimate updates generally taking a more conservative volume approach as consumer trends starting in Q2 have sounded lackluster at best, the analyst tells investors in a research note. Based on the firm’s stress test, Raymond James sees ~10%-20% downside to EPS estimates in a recession scenario.
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