Berry Global downgraded to Neutral from Outperform at Baird

Baird downgraded Berry Global to Neutral from Outperform with a price target of $65, down from $68. The analyst says a :second inflation pulse” is taking hold led by crude oil. In addition, Berry’s “poorly received” decision to separate the Health and Hygiene Products segment from the portfolio via a commensurate merger “derails the purity” of its exposure towards improved consumer personal goods volumes, the analyst tells investors in a research note.