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Jefferies Thinks Berry Global Group’s Stock is Going to Recover

Jefferies analyst Philip Ng maintained a Buy rating on Berry Global Group (BERYResearch Report) on July 11 and set a price target of $70.00. The company’s shares closed last Thursday at $52.21, close to its 52-week low of $50.10.

According to TipRanks.com, Ng is a 5-star analyst with an average return of 7.0% and a 53.3% success rate. Ng covers the Basic Materials sector, focusing on stocks such as International Paper Co, Graphic Packaging, and Eagle Materials.

Currently, the analyst consensus on Berry Global Group is a Strong Buy with an average price target of $71.08, implying a 36.7% upside from current levels. In a report released yesterday, UBS also maintained a Buy rating on the stock with a $73.00 price target.

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The company has a one-year high of $74.73 and a one-year low of $50.10. Currently, Berry Global Group has an average volume of 924K.

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Berry Global Group, Inc. engages in the provision of value added engineered materials, nonwoven specialty materials and consumer packaging with customized solutions. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Health, Hygiene & Specialties, and Engineered Materials. The Consumer Packaging International segment consists of containers, closures, dispensing systems, pharmaceutical devices and packaging, polythene films, and technical components. The Consumer Packaging North America segment consists of containers, foodservice items, closures, over caps, bottles, prescription vials, and tubes. The Engineered Materials segment consists of tapes and adhesives, polyethylene-based film products, can liners, and specialty coated and laminated products. The Health, Hygiene & Specialties segment consists of nonwoven specialty materials and films used in hygiene, infection prevention, personal care, industrial, construction, and filtration applications. The company was founded on November 18, 2005 and is headquartered in Evansville, IN.

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