Loop Capital lowered the firm’s price target on Silgan Holdings to $51 from $54 and keeps a Buy rating on the shares. The analyst cites the company’s FY23 guidance cut amid accelerated customer destocking during the quarter along with a delayed fruit and vegetable pack. The firm is also cutting its Q4 EPS view to 59c from 85c on higher interest expense and lower volume forecasts.
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Read More on SLGN:
- Silgan Holdings price target lowered to $49 from $51 at RBC Capital
- Silgan Holdings sees Q4 adjusted EPS 55c-65c, consensus 72c
- Silgan Holdings lowers FY23 adj. EPS view to $3.30-$3.40 from $3.40-$3.60
- Silgan Holdings reports Q3 adjusted EPS $1.16, consensus $1.12
- SLGN Upcoming Earnings Report: What to Expect?
