Ball Corp. upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Ball Corp. to Overweight from Equal Weight with a price target of $78, up from $69. The firm says Ball is its favorite way to play the secular beverage can growth theme. It sees an attractive buying opportunity given the shares are down 10% since its peak earlier in 2024. Investors are overly focused on the company’s near-term North American volume underperformance verses peers and are underappreciating its ability to grow earnings into the medium term, the analyst tells investors in a research note. Morgan Stanley believes Ball’s low leverage supports its industry leading shareholder return outlook.