As previously reported, Credit Suisse analyst Lars Kjellberg upgraded Crown Holdings to Outperform from Neutral and raised his price target on the shares to $57 from $53. The analyst notes that the late 2017 announcement of the Signode acquisition was badly received by the market, a reaction he, at the time, considered fair. The deal materially increased leverage and CCK stopped its share repurchase program, he points out, adding that the stock has de-rated. Looking ahead, Kjellberg sees scope for significant earnings and cash flow growth. Multiple headwinds in the legacy metal can operations in 2018 provide a relatively easy comp heading into 2019.