Wells Fargo analyst Gabe Hajde raised the firm’s price target on Crown Holdings to $84 from $76 and keeps an Equal Weight rating on the shares. The firm says Crown’s Q1 surprised to the upside, benefiting from strong Europe volumes. That said, AP remains weak and the recovery for Transit Packaging is choppy. With a bit more exposure to geopolitical risks/emerging market weakness, Wells remains sidelined.
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Read More on CCK:
- CROWN HOLDINGS, INC. REPORTS FIRST QUARTER 2024 RESULTS
- Crown Holdings sees Q2 adjusted EPS $1.55-$1.65, consensus $1.56
- Crown Holdings backs FY24 adjusted EPS view $5.80-$6.20, consensus $5.98
- Crown Holdings reports Q1 adjusted EPS $1.02, consensus 96c
- Crown Holdings options imply 5.3% move in share price post-earnings