Truist upgrades Silgan to Buy, cuts Berry and Sealed Air to Hold

As previously reported before the open, Truist analyst Michael Roxland upgraded Silgan Holdings (SLGN) to Buy from Hold with a $64 price target, up from $49, citing the company’s volume growth in higher-margin end markets, its "focused customer approach," declining leverage and consistent execution. Meanwhile, Roxland downgraded Berry Global (BERY) to Hold from Buy with a $70 price target, up from $68, noting that his prior capital return thesis "has played out" and stating that he sees "muted" volume growth this year. In addition, Roxland downgraded Sealed Air (SEE) to Hold from Buy with a $59 price target, citing near-term volume growth headwinds and what he sees as "minimal accretion" from the company’s pending acquisition of Liquibox.