Deutche Bank Downgrades P H Glatfelter And Silgan Holdings

Courtesy of Benzinga.

Deutsche Bank downgraded P H Glatfelter Co (NYSE: GLT) and Silgan Holdings Inc. (NASDAQ: SLGN) from Buy to Hold Wednesday.

Analysts led by Debbie Jones commented that with Glatfelter's “FX headwinds intensifying, we are reducing our FY15 EPS from $2.10 to $2.05/share and Q4’14 EPS from $0.57 to $0.54/share."

Jones introduced “estimates for FY16 and FY17 with EPS at $2.50 and $2.80, respectively. Due to the significant litigation risk GLT now carries (which we don’t see being resolved in the near future).”

Jones reduced the price target on GLT from $31 to $27 and believed that the dynamics may improve in the next two to three years.

P H Glatfelter recently traded at $23.02, down 2.9 percent.

For Silgan, Jones assumed “just 4 percent EPS growth in 2015, which assumes modest volume growth and limited benefit from capital allocation.”

Jones also updated the firm’s estimates “to better represent recent fluctuations in currencies. As a result, our fiscal year 2015 EPS estimate goes to $3.30 from $3.35/share. We are introducing our 2016 and 2017 EPS estimates of $3.50 and $3.70/share, respectively.”

Silgan Holdings recently traded at $51.70, down 0.94 percent.

Posted-In: Debbie Jones Deutsche BankAnalyst Color Downgrades Price Target Analyst Ratings