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Fly News Breaks for November 6, 2019
Nov 6, 2019 | 06:51 EDT
BMO Capital analyst Mark Wilde raised his price target on Crown Holdings to $85 and kept his Outperform rating after its announcement to review its portfolio and capital allocation strategies. The analyst notes that the 2018 acquisition of Signode may be unwound, as the assets have introduced "industrial cyclicality" into a defensive consumer packaging portfolio." Wilde still sees the company among the "best-managed" names in packaging with most stable margins, adding that its 2020 should see benefits from higher North America prices.
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