Truist raised the firm’s price target on Crown Holdings (CCK) to $126 from $118 and keeps a Buy rating on the shares after its Q3 results. The company performed better than expected in European Beverage, Transit Packaging, and Other, while Asia Pacific was in-line and Americas Beverage was below expectations, the analyst tells investors in a research note. Crown’s strong balance sheet and cash flow generation should allow the company to increase share repurchases while maintaining leverage at or around its targeted 2.5-times, the firm added.
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