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Fly News Breaks for October 22, 2018
CCK
Oct 22, 2018 | 07:32 EDT
As previously reported, Wells Fargo analyst Gabe Hajde upgraded Crown Holdings to Outperform from Market Perform and raised his price target on the shares to $60 from $50. The analyst believes investors stand to benefit from low-risk deleveraging activity, accretion from multiple return-oriented capital projects, and contribution from continued volume growth across its global beverage can operations. For 2019, Hajde sees potential upside to both earnings and cash flow stemming from normalized European crop yields, the non-recurrence of suboptimal freight in North America beverage, and ongoing refinement of beverage can contracts.