Silgan Holdings price target raised to $51 from $47 at Citi

Citi analyst Anthony Pettinari raised the firm’s price target on Silgan Holdings to $51 from $47 and keeps a Neutral rating on the shares after its Q4 results and guidance. Although total company volume growth in FY24 may be somewhat muted on first-half destocking, there’s potential for an attractive year-end run-rate given pet food growth inflection in Q3, new business wins, and higher-mix growth in Dispensing, the analyst tells investors in a research note. The firm adds however that despite these positives, it remains at neutral on the stock due to “roughly fair valuation”.