Raymond James downgraded Silgan Holdings (SLGN) to Outperform from Strong Buy with a price target of $53, down from $60. While Raymond James is still constructive on Silgan and believes the portfolio transformation towards higher-value Dispensing products and the margin expansion story remain underappreciated, the firm is taking a more conservative approach and is heeding some caution from discrete items that showed up in Q2 that have remained an overhang on shares, the analyst tells investors in a research note.
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