Ball Corp. initiated with a Sell at UBS

UBS initiated coverage of Ball Corp. (BALL) with a Sell rating and $55 price target. UBS sees downside risks to estimates for 2024 as North American volumes should remain challenged and net price gains will be harder to achieve, the analyst tells investors in a research note. achieve. Ball has by far the most exposure to the North American mass beer market where demand has been in secular decline for many years, and also has specific micro level challenges given share loss and AB-InBev (BUD) exposure, the firm adds.