Zacks Investment Research upgraded shares of Ball Corporation (BLL) from NEUTRAL to OUTPERFORM on February 14, 2014, with a target price of $65.00.
Ball Corporation's adjusted earnings improved 34% year over year to $0.86 in the fourth quarter of 2013. The earnings surpassed the Zacks Consensus. The company has maintained its long-term earnings per share growth goal of 10-15%. It will continue to benefit from expansion into emerging markets, margin restoration in Europe Beverage from restructuring activities, contribution from a new extruded aluminum line in Mexico, added capacity in Brazil, lower pension and interest expense. Strong free cash flow, dividends and share repurchases will also drive growth. We have thus upgraded our recommendation on Ball Corporation from Neutral to Outperform with a target price of $65.
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