- Ball Corp. ( NYSE: BALL ) was added as a best idea long at Hedgeye as the packaging company may see 30% potential upside.
- "Shares of BALL have dropped significantly, returning to near decade lows relative to the S&P 500," Hedgeye analyst Jan Van Sciver wrote in a note on Wednesday. "We expect packaging, in general, and BALL, specifically, to be relative winners over the next 6 months."
- Ball should see growth as comparisons ease and new facilities come online, according to Van Sciver. Ball ( BALL ) shares have dropped 42% year-to-date.
- "The pandemic tailwinds have largely come out of results, improving prospective trends on a rate-of-change basis by 4Q 2022 and the lagged impact of pricing into next year," Van Sciver wrote.
- Hedgeye will hold a meeting to discuss the BALL long idea on Thursday.
- Recall Ball ( BALL ) plunged 18% on Aug. 4 after the company missed earnings expectations and commented o n decelerating customer demand.
For further details see:
Ball Corp. added as a new best idea long at Hedgeye