Citi analyst Anthony Pettinari raised the firm’s price target on Crown Holdings to $104 from $97 and keeps a Buy rating on the shares following a Q4 beat and better-than-expected 2023 EBITDA guidance. The firm cut its 2023-25 earnings estimates, but its underlying EBITDA estimates are largely unchanged and it believes Crown cutting 2024-25 capital expenditures to $500M sets up "a multi-year free cash flow story."
Published first on TheFly
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