Bank of America Merrill Lynch is out with its report today on Ball BLL, maintaining Buy.
In its report, Bank of America Merrill Lynch writes, "This morning, Ball announced it has agreed to repurchase ~$100mn in stock in a private accelerated stock repurchase agreement. The repurchase will start today
and reduce BLL's outstanding stock by ~2.8mn shares. Through 3Q11, BLL had already repurchased a net $381mn of stock. We believe today's announcement is indicative of BLL's strong free cash flow and strategy of returning value to shareholders, and supports our Buy rating."
Shares of BLL closed Friday at $35.47, down 0.53% from Thursday's close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in