Crown Holdings price target raised to $85 from $84 at Wells Fargo

Wells Fargo raised the firm’s price target on Crown Holdings (CCK) to $85 from $84 and keeps an Equal Weight rating on the shares ahead of quarterly results. Going into the Q2 print, the firm favors Crown against Ball Corp. (BALL), given greater leverage towards North America sparkling water plus European beer. In Asia, while demand remains choppy, profitability should improve as Crown Holdings proactively removed 5 lines, Wells adds.