Jefferies Raises price Target on Berry Plastics Group (BERY) to $59

Jefferies reiterated a Buy rating on Berry Plastics Group (NYSE: BERY), and raised the price target to $59.00 (from $52.00), following the company's 4Q earnings report.

Analyst Philip Ng commented, "BERY is on track to grow FCF >60% in FY16-FY18E as it integrates Avintiv and AEP, and with mgmt. taking a conservative approach to guidance, we believe there is upside to guidance. With mgmt. laser-focused on hitting its leverage targets in FY17, it should help bridge the valuation gap with peers, and we reiterate our Buy rating."

For an analyst ratings summary and ratings history on Berry Plastics Group click here. For more ratings news on Berry Plastics Group click here.

Shares of Berry Plastics Group closed at $49.94 yesterday.

You May Also Be Interested In

• Ares Management, L.P. (ARES) PT Raised to $153 at TD Cowen
• Globe Life (GL) PT Raised to $215 at TD Cowen
• Goldman Sachs Starts Lovisa Holdings Ltd (LOV:AU) at Neutral