Silgan Holdings Upgrades Citigroup Ahead of Upcoming Earnings Report (NYSE:SLGN)

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Silgan Holdings (NYSE:SLGN) was upgraded to Buy from its previous Neutral investment rating on Monday by Citigroup analysts. They said the packaging company is poised to turn a profit after reporting second-quarter results.
Silgan (SLGN) is traded at a discount of 8.5 times earnings before interest, taxes, depreciation, and amortization over the next 12 months, compared with a 10-year average of 9.2 times. Citigroup expects the multiple to rise after Silgan (SLGN) The management maintains its forecasts for the full year.