Crown Holdings downgraded to Hold from Buy at Truist

Truist downgraded Crown Holdings (CCK) to Hold from Buy with a price target of $88, down from $100. The firm believes the company has become a “show-me” story until it delivers more notable EBITDA and earnings improvement, as well as addresses issues with some of its ancillary, non-core businesses, the analyst tells investors. Given recent performance and near-term outlooks, the firm is stepping to the sidelines on both Crown and Berry Global (BERY), the analyst noted.