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 month 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."
|Over a quarter ago|
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.
Ardagh Group initiated with an Equal Weight at Barclays » 09:0201/1601/16/20
Barclays analyst Michael…
Barclays analyst Michael Leithead initiated coverage of Ardagh Group with an Equal Weight rating and $22 price target. The analyst initiated coverage of five Packaging names with a positive industry view. For Ardagh, he sees beverage can benefits weighing against glass headwinds, and a limited free float driving a modest valuation discount.
FCD can plant news potential negative for Ball, Crown and Ardagh, says Citi » 11:4212/0612/06/19
BLL, CCK, ARD
After a local Florida…
After a local Florida daily newspaper reported that privately-owned Florida Caribbean Distillery plans to invest $120M to build an aluminum beverage can plant in Winter Haven, Citi analyst Anthony Pettinari said he believes this would be FCD's first beverage can manufacturing facility. While details are still limited, he views the news as a potential negative for Ball Corp. (BLL), Crown Holdings (CCK) and Ardagh Group (ARD), Pettinari tells investors. He also said that beverage cans "are typically not shipped" more than 200 miles and noted that Ball has a can plant in Tampa, while the other two can makers he mentions do not have facilities in the state of Florida.
Citigroup to hold a conference » 04:5512/0412/04/19
AMCR, APD, ARD, BERY, BLL, CCK, CLXT, CTVA, ECL, EMN, FMC, GPK, HUN, IP, LYB, MOS, NTR, RYN, SEE, SQM, VNTR, WRK
2019 Basic Materials…
2019 Basic Materials Conference will be held in New York on December 2-4.