Ball Corp. price target lowered to $77 from $80 at RBC Capital

RBC Capital lowered the firm’s price target on Ball Corp. to $77 from $80 and keeps an Outperform rating on the shares. The firm is boosting its FY24 EPS view by 10c to $3.10 after the company’s Q2 earnings beat, the analyst tells investors in a research note. RBC lowers its assumed EBITDA multiple on the stock to 13-times from 15-times on Argentina uncertainty but remains positive longer term given improved operating efficiencies/cost savings, low leverage post-Aerospace sale, and continued share buybacks, the firm added.