JPMorgan upgraded Ball Corp. to Overweight from Neutral with an unchanged price target of $60. Beverage can industry supply/demand balances have tightened because of rationalization steps by the major producers, the analyst tells investors in a research note. The firm says aluminum cans appear to be the preferred packaging medium by the growing branded energy drink sellers. Ball shares often trade on its volume growth momentum, and this should accelerate due to positive South American demand and production variability, contends JPMorgan.
