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Fly News Breaks for April 2, 2018
BMS
Apr 2, 2018 | 06:50 EDT
BofA/Merrill analyst George Staphos upgraded Bemis two notches to Buy from Underperform and trimmed its price target to $50 from $53 saying shares have lagged the group. Staphos' discussions indicate both management and employees view improving performance as "imperative" and sees efforts to optimize manufacturing capacity and reduce SG&A costs as ultimately delivering better results. Further, The analyst notes traditional flexible packaging volumes have improved early in the year.
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