Truist Securities has reiterated its Buy recommendation on Crown Holdings (NYSE: CCK) and kept a $130.00 price target after the packaging company released its latest quarterly results. That target implies roughly 13% upside from the stock's prevailing price of $115.24, with the share price noted as trading close to its 52-week peak of $115.72. Over the past 12 months the stock has returned 36.88%.
The quarter showed stronger-than-expected operating performance on a per-share basis. Crown reported adjusted operating earnings per share of $1.74, topping Truist's $1.68 estimate and the broader Street consensus of $1.69. The result also sat at the high end of Crown's guidance range of $1.65-1.75.
On the top line, the company reported revenue of $3.13 billion for the quarter. That figure exceeded the consensus forecast of $2.99 billion and represented a 7.7% increase versus the same quarter in the prior year.
Third-party data from InvestingPro were cited to show valuation metrics that may underpin Truist's ongoing positive view: a price-to-earnings ratio of 14.23 and a free cash flow yield of 8%.
Performance across Crown's business units was uneven. The Americas Beverage and European Beverage segments outperformed Truist's expectations, while the Asia Pacific, Transit, Other and Corporate segments fell short of what the analyst had projected.
Truist's review of the company's results also highlighted a set of below-the-line items that collectively contributed roughly $0.06 to reported earnings per share. The firm broke these items down as approximately $0.03 from lower income attributable to non-controlling interests, another $0.03 from more favourable interest expense, roughly $0.01 from pension expense, and about $0.01 from a lower share count. These positive adjustments were partially offset by lower interest income, which Truist estimated reduced EPS by approximately $0.01-0.02.
Market response to the earnings and revenue beats was muted. Even with the stronger results, Crown's shares slipped about 1.9% as investors reacted to the company's guidance for 2026, highlighting a divergence between near-term financial outperformance and investor sentiment driven by forward-looking expectations.
Truist's maintained $130.00 target and Buy rating signal the firm's continued conviction in Crown's valuation and cash generation profile, as reflected in the cited P/E and free cash flow yield metrics. At the same time, the report underscores the mixed operational picture across regions and segments and the sensitivity of share price movements to forward guidance.
Context and implications
Investors and analysts will likely monitor how the underperforming segments evolve relative to the company's guidance and whether below-the-line items remain supportive of reported EPS. The combination of a valuation that Truist views as attractive and the mixed segment outcomes frame the firm's decision to keep its Buy rating and $130 target.