AptarGroup upgraded to Overweight from Equal Weight at Wells Fargo

Wells Fargo upgraded AptarGroup (ATR) to Overweight from Equal Weight with a price target of $144, up from $133. The firm says the share price reaction relating to the Iran conflict has been “disproportionate” across the packaging sector. Wells prefers companies with low leverage, high U.S concentration, and “defensive” production exposures. The analyst adjusted ratings in the group. AptarGroup offers a “best-in-class” balance sheet and heavy exposure to the “defensive” pharma sector, which is key during periods of uncertainty, the analyst tells investors in a research note.