JPMorgan upgrades Ball stock rating on volume growth outlook
JPMorgan upgraded Ball Corp's stock rating to Overweight from Neutral, citing a price target of $65.00. With a P/E ratio of 17.45 and a favorable PEG ratio of 0.2, the stock appears undervalued relative to its near-term earnings growth. After a 9% decline since late July, Ball's stock price is now trading at a discount compared to its peers.
The firm anticipates a 3.5% year-over-year increase in Ball's volumes in 2026, driven by the acquisition of Benepact in Europe, adding roughly 1.7 billion cans, and the start-up of the Millersburg, Oregon plant, capable of producing 1.5 billion cans. Ball has maintained dividend payments for 54 straight years and offers a strong Pro Research Report.
The company recently reported stronger-than-expected second-quarter 2026 results, with earnings of $1.03 per share on revenue of $3.99 billion, surpassing analyst estimates. JPMorgan's upgrade contrasts with a downgrade by Truist Securities, which raised its price target for Ball to $78 while maintaining a Buy rating, citing positive volume growth outlooks.
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