Morgan Stanley analyst Pamela Kaufman initiated coverage of Ball Corp. with an Equal Weight rating and $68 price target. Ball is the market leader with 26% global share in the “consolidated and defensive” beverage can industry, the analyst tells investors in a research note. The firm says that while near- and long-term catalysts can drive earnings upside, near-term volumes may be pressured from weak consumer demand and the company’s exposure to the secularly challenged beer market.
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