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Fly News Breaks for November 11, 2016
BLL
Nov 11, 2016 | 07:16 EDT
Wells Fargo notes that Ball Corp's (BLL) stock has dropped nearly 5% since the election. The firm attributes the decline to concerns about the company's Mexican operations and its relationship with Constellation Brands (STZ), as well as increased volatility in financial markets and investors' rotation into "risk-on" stocks. Wells says that these concerns are overdone and don't affect the company's ability to meet its free cash flow targets. Additionally, Wells believes that the company's volumes in developed coutnries should rise if the U.S. economy accelerates. Wells keeps an Outperform rating on the shares.
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