AptarGroup price target raised to $125 from $115 at Baird

Baird analyst Ghansham Panjabi raised the firm’s price target on AptarGroup to $125 from $115 and keeps a Neutral rating on the shares. The analyst said while the high margin Pharma segment continues to drive outsized outperformance, we note that operating leverage from a volume recovery in Beauty is relatively muted; underlying our view that increased scale or a strategic overhaul is needed for the segment as the company evolves towards a purer focus on businesses with true and sustainable moats.