Berry Global price target lowered to $77 from $89 at UBS

UBS lowered the firm’s price target on Berry Global to $77 from $89 and keeps a Buy rating on the shares. Some of the most recent Nielsen trends are weaker on the beverage side, which is a risk to cans and glass, the analyst tells investors in a research note. The firm says that similar to chemicals, packaging volumes and earnings are coming off trough levels, but generally at a slower pace than anticipated. That said, UBS thinks investors have become too negative on some stocks. It sees attractive upside in O-I Glass (OI) and Berry Global (BERY).