UBS downgraded Crown Holdings (CCK) to Neutral from Buy with an unchanged price target of $126. The firm sees a more balanced risk/reward with the shares nearing the price target Crown may see a multi-year period of lower volume drop as new capacity is needed to service demand, the analyst tells investors in a research note. The firm says the company’s incremental growth is less accretive in the near term as its investments pick up.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CCK:
- Crown Holdings’ Earnings Call Highlights Record Cash, Risks
- Crown Holdings price target raised to $134 from $129 at Morgan Stanley
- Crown Holdings price target raised to $120 from $110 at Baird
- Crown Holdings price target raised to $135 from $130 at Truist
- Crown Holdings downgraded to Peer Perform from Outperform at Wolfe Research