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Crown Holdings price target raised to $113 from $110 at Wells Fargo

Wells Fargo raised the firm’s price target on Crown Holdings (CCK) to $113 from $110 and keeps an Equal Weight rating on the shares. The firm says Crown grew EBITDA 8% year-over-year despite tough comparable sales that dampened volume growth in Q2 owing to mix, operational excellence and help from food cans/other. However, with comps only getting tougher in the second half of the year and CSD volumes appearing to decelerate in North America, Wells stays on the sidelines.

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