KeyBanc Maintains Their Hold Rating on Berry Plastics (BERY)


KeyBanc analyst Adam Josephson maintained a Hold rating on Berry Plastics (BERY) today. The company’s shares opened today at $51.

Josephson said:

“We’re going below the implied FY20 EBITDA guidance of $2.15 billion given the Company’s recent struggles; we’re at $2.11 billion ($40 million lower). Regarding BERY’s FY20 free cash flow guidance of $800 million, we think that’s a reasonably good “normalized” number; one could assume that by FY21 or FY22 the cash restructuring costs will go away and that the Company will achieve the remaining $75 million of the guided-to $150 million of synergies, but that assumes a number of good things happening and no bad ones.”

According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.0% and a 65.0% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.

Berry Plastics has an analyst consensus of Hold.

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Berry Plastics’ market cap is currently $7.26B and has a P/E ratio of 18.36. The company has a Price to Book ratio of 4.73.

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Berry Global Group, Inc. engages in the provision of value added engineered materials, nonwoven specialty materials and consumer packaging with customized solutions. It operates through the following segments: Consumer Packaging; Health, Hygiene & Specialties; and Engineered Materials.

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