2024-02-11 01:04:40 ET
Summary
- On February 7, the company announced the spin-off and merger of its Health, Hygiene and Specialties segment with Glatfelter.
- The value for Berry Group’s shareholders is $1.9 billion at Glatfelter's current share price which is close to the $2 billion price tag estimated by analysts back in September.
- Some of the 13% drop in Berry Group’s valuation on February 7 and 8 can be attributed to the weak Q1 FY24 financial results but the stock looks oversold here.
- In my view, the valuation of the company is likely to improve to around 8.5x EV/EBITDA over the coming months.
Introduction
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Berry Global: Selloff Following Glatfelter Deal Creates Buying Opportunity