Ball Corp. upgraded to Outperform from Neutral at Baird

Baird upgraded Ball Corp. to Outperform from Neutral with an unchanged price target of $70. The company’s strategic internal pivot to focus on self-improvement via footprint optimization and share buybacks should drive double-digit earnings growth on a go-forward basis, the analyst tells investors in a research note. The firm believes Ball is on track to exceed the previous earnings peak of $3.60 per share from 2021 by 2025. While the shares continue to trade at a premium valuation, an earnings reacceleration 2025 onwards “will resonate favorably with Investors,” contends Baird.