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Fly News Breaks for September 26, 2019
CCK
Sep 26, 2019 | 07:09 EDT
JPMorgan analyst Tyler Langton raised his price target for Crown Holdings to $75 from $68 and keeps an Overweight rating on the shares. The pickup in volume growth for beverage cans is sustainable, and global beverage can volumes should be able to grow in the 3%-4% range in the medium term given the can's sustainability and branding advantages over other substrates, Langton tells investors in a research note. He believes Crown Holdings' beverage can volumes should grow at around 3% per year through 2024, a rate he thinks is conservative.
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