Ardagh Group price target raised to $20 from $17 at Deutsche Bank » 07:2010/2610/26/20
Deutsche Bank analyst…
Deutsche Bank analyst Debbie Jones raised the firm's price target on Ardagh Group to $20 from $17 and keeps a Buy rating on the shares following the company's "strong" Q3 results.The analyst sees "impressive growth with significant capital investment ahead."
Ardagh Group price target raised to $21 from $17 at Citi » 06:2610/2610/26/20
Citi analyst Anthony…
Citi analyst Anthony Pettinari raised the firm's price target on Ardagh Group to $21 from $17 and keeps a Buy rating on the shares. The company posted a Q3 beat but "more importantly" detailed a $1.8B investment program that will add 16B beverage can capacity through 2024, Pettinari tells investors in a research note. The analyst remains positive on the can makers.
|Over a week ago|
Ardagh Group reports Q3 adjusted EPS 48c, consensus 40c » 07:0310/2210/22/20
Reports Q3 revenue…
Reports Q3 revenue $1.80B, consensus $1.73B. CEO Paul Coulson said, "The Group performed very well in the quarter in a challenging operating environment, with continued strong growth in Metal Beverage Packaging and resumed volume growth in Glass Packaging, as on-premise channels re-opened. Our 2020 $250M Business Growth Investment program has progressed well and will deliver new beverage can capacity in North America later this quarter. In addition, given a very favorable long-term outlook for sustainable packaging, we plan to invest over $1.8B in organic growth projects in 2021 to 2024, in addition to maintenance capex. This investment, will be principally in our beverage can business."
Ardagh assumed with an Outperform from Neutral at Credit Suisse » 15:0710/1610/16/20
Credit Suisse analyst…
Credit Suisse analyst Curt Woodworth upgraded Ardagh Group to Outperform from Neutral with a price target of $20, up from $17.20, after assuming coverage of the name. The analyst assumed coverage of the U.S. beverage can packaging sector with a "bullish" medium-term outlook. Ardagh is a leading producer of beverage cans and glass containers, with "top 3" share and "best-in-class" specialty mix across its major markets, Woodworth tells investors in a research note. The analyst sees the company adding at least 3B units of new can capacity in the Americas over the next 12-24 months, with "strong leverage in key verticals" across hard seltzer and craft beer. He believes the Street is underestimating Ardagh's beverage growth.
|Over a quarter ago|
Ardagh Group reports Q2 adjusted EPS ,37c consensus 30c » 07:0207/2307/23/20
Reports Q2 revenue…
Reports Q2 revenue $1.61B, consensus $1.61B. Paul Coulson, Chairman and Chief Executive, said, "The Group performed well in the quarter, reflecting strong execution and the defensive end markets we serve. Earnings grew in Metal Beverage Packaging, while Glass Packaging's performance was very resilient. Demand for sustainable packaging remains strong and we continue to progress our growth investment projects. We also availed of favourable markets to improve our capital structure and ended the quarter with total liquidity of $1.6B. Overall trading trends in June were positive and we are well-positioned to benefit from further improvements in market demand."
Fly Intel: Wall Street's top stories for Wednesday » 16:3607/1507/15/20
BLL, CCK, GS, JPM, UNH, MRNA, AZN, WMT, FSCT, ORGO, ARD, BK
Stocks were rallying in…
Can-Pack entry to U.S. would be negative for Ball, Crown, says Citi » 15:0807/1507/15/20
CCK, BLL, ARD
After a local news outlet…
After a local news outlet in Pennsylvania reported that Can-Pack, the fourth-largest global beverage can producer, will build its first U.S. plant, said to be a state-of-the-art aluminum can facility, Citi analyst Anthony Pettinari said that he views the news as "a clear negative" for Ball Corp. (BLL), Crown Holdings (CCK) and Ardagh Group (ARD) if the report is accurate. Can-Pack has a history of impacting local can markets and he expects all three stocks to trade lower on the news, similar to when Florida Caribbean Distillers' greenfield beverage can facility was first announced, the analyst added.
Ardagh Group price target lowered to $15 from $22 at Barclays » 06:5004/2404/24/20
Barclays analyst Michael…
Barclays analyst Michael Leithead lowered the firm's price target on Ardagh Group to $15 from $22 and keeps an Equal Weight rating on the shares following the company's Q1 results. The analyst believes Ardagh has sufficient liquidity and cash flow to manage through this period.
Ardagh Group reports Q1 adjusted EPS 31c, consensus 28c » 07:0304/2304/23/20
Reports Q1 revenue…
Reports Q1 revenue $1.62B, consensus $1.62B. CEO Paul Coulson said "Q1 results were in line with our expectations, with no material impact from COVID-19. The commitment and dedication of our teams during this challenging period has been outstanding, enabling all our production facilities to continue to serve the beverage and food supply chain. It is too early to assess the macroeconomic impact of the pandemic and, accordingly, we are withdrawing our 2020 financial guidance. However, our defensive end markets, proven operating model and $1.5B in liquidity position us to successfully manage this uncertain environment."
Ardagh Group downgraded to Underweight from Equal Weight at Wells Fargo » 06:1804/1704/17/20
Wells Fargo analyst Gabe…
Wells Fargo analyst Gabe Hajde downgraded Ardagh Group to Underweight from Equal Weight with a price target of $13, down from $21, in light of the ongoing COVID-19 outbreak to reflect a similar drop off in semi-discretionary end markets and premium products to the Great Recession. In a research note to investors, Hadje says this reflects low-to-mid teen declines in fragrance/cosmetic end markets as well as industrial applications, a meaningful contraction in away-from-home dining, and an increase in packaging necessary for at-home consumption.