BofA lowered the firm’s price target on Berry Global to $78 from $80 and keeps a Buy rating on the shares. The firm’s forecasts generally decline “very slightly” on the still-weak volume environment and the pull-forward of working capital benefits in FY23, which makes FY24 free cash flow comps tougher, the analyst tells investors in a note post fiscal Q4 results.
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Read More on BERY:
- Berry Global sees FY24 adjusted EPS $7.35-$7.85, consensus $7.89
- Berry Global reports Q4 EPS $2.28, consensus $2.14
- Berry Global increases quarterly dividend by 10% to 27.5c per share
- BERY Earnings Report this Week: Is It a Buy, Ahead of Earnings?
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