Ball Corp. price target lowered to $64 from $69 at Wells Fargo

Wells Fargo lowered the firm’s price target on Ball Corp. to $64 from $69 and keeps an Equal Weight rating on the shares. Ball’s revised 2%-3% global volume CAGR reflects a more supportable outlook, and one capable of driving earnings growth over time, the firm argues. While positive, Wells thinks investors are struggling to reconcile a revised EPS growth algo of +10% to a premium valuation.