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BERY

Berry Plastics

$45.94

-0.39 (-0.84%)

08:33
11/29/16
11/29
08:33
11/29/16
08:33

Berry Plastics sees FY17 adjusted free cash flow $550M

"Looking forward to next year we will continue our focus on reducing our net debt to adjusted EBITDA ratio by 0.5 or greater to below 4 on or before the end of fiscal 2017. Additionally we are anticipating and excited for the close of our acquisition of AEP and believe together with our Engineered Materials Division, will create an impressive packaging film producer serving the North American market," stated the company. "We anticipate our fiscal year 2017 adjusted free cash flow to be $550 million, after deducting the $60 million payment made in October 2016 under the Company's tax receivable agreement. These estimates assume, solely for projection purposes, that the acquisition of AEP is completed on February 1, 2017. These estimates also assume flat working capital, constant currency rates as of the end of September, and no significant change in short term interest rates. Additionally, our capital spending and cash interest costs are forecasted to be $315 million and $275 million, respectively, for fiscal 2017. Within our adjusted free cash flow guidance, we are also assuming other cash taxes of $80 million, primarily related to international jurisdictions, and other cash uses of $60 million related to items such as acquisition integration expenses and costs to achieve synergies."

  • 29

    Nov

BERY Berry Plastics
$45.94

-0.39 (-0.84%)

08/26/16
BARD
08/26/16
NO CHANGE
Target $55
BARD
Outperform
Berry Plastics price target raised to $55 from $48 at Baird
Baird raised its price target on Berry Plastics (BERY) to $55 from $48 following its merger announcement with AEP Industries (AEPI). The firm sees AEP as a logical fit with low risk synergies and a critical mass in flexible packaging. Baird reiterated its Outperform rating on Berry Plastics shares.
08/29/16
FBCO
08/29/16
NO CHANGE
FBCO
Berry Plastics acquisition 'attractive,' says Credit Suisse
Credit Suisse analyst Lars Kjellberg believes that Berry Plastics' (BERI) acquisition of AEP Industries (AEP) is "attractive." The analyst notes that the deal is immediately accretive and "leverage positive." He thinks that both of these attributes will create value for shareholders. The analyst raised his price target on Berry to $59.50 from $52 and keeps an Outperform rating on the stock.
09/13/16
JPMS
09/13/16
INITIATION
Target $54
JPMS
Overweight
Berry Plastics initiated with Overweight, added to Focus List at JPMorgan
JPMorgan analyst Tyler Langton started Berry Plastics with an Overweight rating and $54 price target. The analyst added the shares to his firm's Analyst Focus List. Langton expects the stock's valuation gap relative to peers to narrow as the company pays down debt, demonstrates margins sustainability and benefits from Avintiv's higher growth rates.
10/13/16
JEFF
10/13/16
INITIATION
Target $52
JEFF
Buy
Berry Plastics initiated with a Buy at Jefferies
Jefferies analyst Philip Ng started Berry Plastics with a Buy rating and $52 price target. The stock's discount to pees should narrow as the company de-levers and returns cash back to shareholders, Ng tells investors in a research note. The analyst believes Berry shares could rally 41%.

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HYG

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NOC

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ESPR

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LPLA

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