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BMS

Bemis

$51.05

-0.48 (-0.93%)

, SEE

Sealed Air

$43.19

-0.21 (-0.48%)

05:49
08/07/18
08/07
05:49
08/07/18
05:49

Bemis downgraded to Neutral from Buy at UBS

UBS analyst Edlain Rodriguez downgraded Bemis (BMS) to Neutral following Amcor's offer to acquire the company. The analyst raised his price target for the shares to $54 from $52, which reflects a 50/50 blend of his standalone Bemis target of $52 and the implied current deal price of $55. Rodriguez says the closest plastic packaging peers to Bemis are Sealed Air (SEE), Berry Global (BERY) and Sonoco Products (SON).

BMS

Bemis

$51.05

-0.48 (-0.93%)

SEE

Sealed Air

$43.19

-0.21 (-0.48%)

BERY

Berry Global

$48.61

0.58 (1.21%)

SON

Sonoco

$56.15

-0.42 (-0.74%)

  • 07

    Aug

  • 11

    Sep

  • 18

    Oct

BMS Bemis
$51.05

-0.48 (-0.93%)

04/02/18
BOFA
04/02/18
UPGRADE
Target $50
BOFA
Buy
Bemis upgraded to Buy from Underperform at BofA/Merrill
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.
05/18/18
JEFF
05/18/18
INITIATION
Target $46
JEFF
Hold
Bemis initiated with a Hold at Jefferies
Jefferies analyst Daniel Rizzo started Bemis with a Hold rating and $46 price target. The analyst is cautious on the company's long-term organic growth profile.
12/06/17
KEYB
12/06/17
NO CHANGE
KEYB
Sector Weight
Bemis' room for margin improvement may not be far from target, says KeyBanc
In further analysis of the New York Post report that said Bemis (BMS) has hired Goldman Sachs (GS) to explore its options, KeyBanc analyst Adam Josephson raised the question of what Bemis' margins "should be." His analysis suggests Bemis has room for about 200-250 basis points of margin improvement, which he notes is "not dramatically different" than the company's current cost savings target. Bemis' EBITDA could grow $150M in the hands of the acquirer if everything goes according to plan, which "doesn't strike us as compelling for the buyer," wrote Josephson, who has a Sector Weight rating on the stock.
01/02/18
BOFA
01/02/18
DOWNGRADE
BOFA
Underperform
Bemis downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst George Staphos downgraded Bemis to Underperform and raised its price target to $52 from $51 saying it doesn't screen well in an environment where global growth and emerging markets are picking up and rates are rising.
SEE Sealed Air
$43.19

-0.21 (-0.48%)

05/23/18
UBSW
05/23/18
NO CHANGE
Target $52
UBSW
Buy
Sealed Air management meetings reaffirm positive view, says UBS
UBS analyst Edlain Rodriguez says meetings with management reaffirmed his positive view of Sealed Air. The company's key growth drivers include exposure to the recovery in the U.S. beef market and secular growth in e-commerce packaging, Rodriguez tells investors in a research note. Sealed Air is one of the best volume stories in the space with sustainable growth of 3.5%-4.5%, the analyst contends. He keeps a Buy rating on the shares with a $52 price target.
02/12/18
VERT
02/12/18
UPGRADE
VERT
Buy
Sealed Air upgraded to Buy from Hold at Vertical Research
Vertical Research analyst Chip Dillon upgraded Sealed Air to Buy following the post-earnings selloff in the shares. The analyst views the 2018 guidance as conservative.
01/31/18
RHCO
01/31/18
DOWNGRADE
Target $48
RHCO
Hold
Sealed Air downgraded to Hold from Buy at SunTrust
SunTrust analyst Jason Freuchtel downgraded Sealed Air to Hold from Buy and lowered his price target to $48 from $49. Freuchtel notes that the stock has performed well since Q3 on positive volume momentum and expectations of capital deployment, but more upside is now limited in the near term while the synergies from acquisitions will take some time to materialize.
05/18/18
JEFF
05/18/18
INITIATION
Target $53
JEFF
Buy
Sealed Air initiated with a Buy at Jefferies
Jefferies analyst Daniel Rizzo started Sealed Air with a Buy rating and $53 price target. The company is best positioned in Packaging to benefit from changing customer food trends, Rizzo tells investors in a research note.
BERY Berry Global
$48.61

0.58 (1.21%)

05/18/18
JEFF
05/18/18
INITIATION
Target $67
JEFF
Buy
Berry Global initiated with a Buy at Jefferies
Jefferies analyst Daniel Rizzo started Berry Global Group with a Buy rating and $67 price target. The company has one of the highest free cash flow profiles in Packaging, and deleveraging returning cash should drive a multiple expansion, Rizzo tells investors in a research note.
05/04/18
WELS
05/04/18
NO CHANGE
Target $69
WELS
Outperform
Berry Global selloff brings attractive entry point, says Wells Fargo
Wells Fargo analyst Christopher Manuel believes the 8% selloff yesterday in shares of Berry Global Group creates a "dislocation" and attractive entry point. The company is well positioned to deliver $700M-plus of free cash flow in fiscal 2019, Manuel tells investors in a research note. While Berry is facing near-term inflationary headwinds across most of its business, the company is out aggressively implementing non-material price increases as well as activity managing the business to preserve its low-cost supplier position, the analyst contends. He keeps an Outperform rating on the shares with a slightly reduced $69 price target.
04/12/18
VERT
04/12/18
INITIATION
Target $65
VERT
Buy
Berry Global initiated with a Buy at Vertical Research
Vertical Research initiated Berry Global with a Buy and $65 price target.
05/04/18
BARD
05/04/18
NO CHANGE
Target $65
BARD
Outperform
Berry Global shares appear oversold, says Baird
Baird analyst Ghansham Panjabi said weak volumes and an unfavorable cost/spread continue to weigh on Berry Global shares, but at this point the shares appear oversold. The analyst believes its free cash flow and volume outlook are move favorable and he sees pricing pressures easing over the next 2-3 quarters. Panjabi reiterated his Outperform rating and lowered his price target to $65 from $70 on Berry Global shares.
SON Sonoco
$56.15

-0.42 (-0.74%)

07/20/18
DADA
07/20/18
NO CHANGE
Target $57
DADA
Neutral
Sonoco price target raised to $57 from $54 at DA Davidson
DA Davidson analyst Steven Chercover raised his price target on Sonoco to $57 after its Q2 earnings beat, even as its Q3 EPS guidance midpoint was just below consensus. The analyst is also keeping his Neutral rating while attributing the expected sequential decline in earnings to higher material cost inflation, saying he expects the price increase implementation on North America composite cans and metal ends to lag the costs incurred. Chercover adds that in spite of Sonoco's "best intentions" of focusing its growth on consumer packaging dedicated to food service and the reduction of spoilage, domestic recycling program are "falling short of expectations".
04/20/18
VERT
04/20/18
DOWNGRADE
VERT
Hold
Sonoco downgraded to Hold from Buy at Vertical Research
Vertical Research analyst Chip Dillon downgraded Sonoco to Hold citing valuation.
04/13/18
04/13/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Dropbox (DBX) initiated with a Reduce at Nomura Instinet. 2. Horizon Global (HZN) initiated with a Buy at B. Riley FBR. 3. Sonoco Products (SON) initiated with a Buy at UBS. 4. Campbell Soup (CPB) reinstated with a Sell at Goldman Sachs. 5. Celgene (CELG) resumed with an Equal Weight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/13/18
UBSW
04/13/18
INITIATION
Target $55
UBSW
Buy
Sonoco Products initiated with a Buy at UBS
UBS analyst Edlain Rodriguez started Sonoco Products with a Buy rating and $55 price target. The company's ongoing shift to plastics packaging is not fully priced into the shares, Rodriguez tells investors in a research note.

TODAY'S FREE FLY STORIES

BHP

BHP Billiton

$48.30

0.38 (0.79%)

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TGE

Tallgrass Energy

$26.23

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Tilray

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  • 28

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LFL

LATAM Airlines

$0.00

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19:10
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MNOV

MediciNova

$8.99

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HTZ

Hertz

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$319.70

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IBKR

Interactive Brokers

$61.99

0.76 (1.24%)

18:43
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MSFT

Microsoft

$106.87

-0.71 (-0.66%)

18:29
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LinkedIn to let economics researchers mine its data »

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  • 04

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GSB

GlobalSCAPE

$3.46

(0.00%)

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GlobalSCAPE to launch $15M modified Dutch auction tender offer »

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  • 10

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BHP

BHP Billiton

$48.30

0.38 (0.79%)

18:24
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18:24
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Earnings
BHP reports FY18 underlying profit $9.6B, consensus $9.2B according to Bloomberg »

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LII

Lennox

$225.37

2.76 (1.24%)

18:19
08/20/18
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18:19
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Earnings
Lennox cuts FY18 adjusted EPS view to $8.90-$9.30 from $9.95-$10.35 »

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GDI

Gardner Denver

$28.29

0.36 (1.29%)

18:10
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MMM

3M

$204.57

-0.24 (-0.12%)

18:09
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ETN

Eaton

$81.33

0.35 (0.43%)

18:05
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FLS

Flowserve

$51.51

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ITW

Illinois Tool Works

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CFX

Colfax

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ALLE

Allegion

$86.97

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CGNX

Cognex

$52.42

0.02 (0.04%)

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UTX

United Technologies

$135.14

0.73 (0.54%)

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JCI

Johnson Controls

$38.73

0.48 (1.25%)

17:47
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Initiation
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PH

Parker-Hannifin

$170.11

0.55 (0.32%)

17:43
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Initiation
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TWTR

Twitter

$32.60

-0.14 (-0.43%)

, FB

Facebook

$172.50

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FB

Facebook

$172.50

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LII

Lennox

$225.37

2.76 (1.24%)

17:41
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Initiation
Lennox initiated at Morgan Stanley »

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ROK

Rockwell Automation

$173.77

0.14 (0.08%)

17:34
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Initiation
Rockwell Automation initiated at Morgan Stanley »

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