Crown Holdings price target lowered to $129 from $140 at RBC Capital

RBC Capital lowered the firm’s price target on Crown Holdings (CCK) to $129 from $140 and keeps an Outperform rating on the shares as part of a broader research note previewing Q1 results among Packaging names. Volumes could remain in the low single digits range, with strong Energy and Sparkling Water offsetting soft carbonated soft drinks and flattish beer and food categories, the analyst tells investors in a research note. Iran headwinds are likely to appear starting Q2, but hedging and local sourcing can mitigate near-term headwinds for the group, the firm added.