Jefferies reiterated a Buy rating and $135 price target on Crown Holdings (CCK), saying the “sizable” beat and raise report is a surprise, and that it’s impressive the company is delivering such strong results in a backdrop where most consumer staples companies can’t grow. The firm expects the stock to be up nicely, and continues to view Crown as undervalued. The beat was particularly impressive despite weak consumer trends, as well as despite the company tempering expectations with North America and Brazil slowing, the analyst tells investors in a research note.
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