Silgan Holdings price target raised to $51 from $49 at RBC Capital

RBC Capital raised the firm’s price target on Silgan Holdings to $51 from $49 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company is expecting destocking to wane in the first half of the year and volumes to recover with increased promotional activity, the analyst tells investors in a research note. Silgan should still grow earnings in a flat market environment with cost savings initiatives, and should generate solid free cash flow for share buybacks, M&A, and deleveraging, the firm added.