Truist downgraded Berry Global (BERY) to Hold from Buy with a price target of $68, down from $75. The firm believes the stock is going to be “largely range bound” due to its recent deal announcement, adding that leverage will remain elevated postdeal and volume weakness will continue. Given recent performance and near-term outlooks, the firm is stepping to the sidelines on both Berry and Crown Holdings (CCK), the analyst tells investors.
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