Silgan Holdings price target raised to $62 from $51 at Loop Capital

Loop Capital raised the firm’s price target on Silgan Holdings to $62 from $51 and keeps a Buy rating on the shares. The company reported “solid” Q4 results with an earnings beat, the analyst tells investors in a research note, adding that the firm also sees a “light at the end of the tunnel” for recent customer destocking. Loop is reducing its FY24 EPS view by 3c to $3.63 however to reflect lower volume forecasts amidst continued customer destocking into early 2024, the firm added.