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Investing.com - Citi has resumed coverage of Verallia SA (EPA:VRLA) with a Buy rating and a price target of EUR37.70, according to a research note released Thursday.
The investment bank maintained its 2025/26 estimates for the glass packaging manufacturer following an update last week, projecting positive volume growth as weak consumption improves, albeit at a slower pace than previously anticipated.
Citi expects pricing to remain negative but likely less negative year-over-year moving forward, as spot prices reach bottom and industry closures support market dynamics.
While forecasting a negative spread in the short term, the bank anticipates margin improvement in the second half of 2025 and into 2026 for the French glass packaging company.
Citi noted that while the BWGI transaction will likely dominate Verallia’s share price movements in the coming weeks, the firm favors Verallia’s leading industry position in medium-term trends, including premiumization and low-emission furnaces.
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