Bemis Company Initiated At Neutral

Goldman Sachs has published a research report on Bemis Company BMS and has initiated coverage at Neutral. In the report, Goldman Sachs writes "We initiate coverage of Bemis (BMS), a multinational flexible packaging producer, with a Neutral rating and 12 month $35 price target. That being said, we expect BMS shares will return in excess of 15% (including 3% dividend) over the next 12 months owing to strong EPS growth, robust FCF generation, and more favorable capital allocation. In the context of our Packaging coverage, we prefer exposure to rigid metal can producers Ball (BLL) and Crown (CCK) – rated Buy – as we see even more compelling EPS growth, greater focus on share buyback, and valuation relative to BMS." Goldman Sachs has also initiated a $35 price target. Bemis Company closed yesterday at $30.73.