Ball Corp. price target lowered to $61 from $63 at Wells Fargo

Wells Fargo lowered the firm’s price target on Ball Corp. (BALL) to $61 from $63 and keeps an Equal Weight rating on the shares. The challenging macro resulted in softer than expected global volumes for Ball in Q4, and while Ball is focused on operational excellence and returning free cash flow to shareholders, which is helping to drive EPS growth, Wells Fargo views the current valuation as reasonable, the analyst tells investors in a research note.