01:30 PM EDT, 04/26/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We increase our 12-month target price by $16 to $166, or 28.2x our 2025 EPS estimate, in line with ATR's three-year avg. forward P/E multiple. We raise our 2024 EPS estimate by $0.12 to $5.36 and increase our 2025 EPS forecast by $0.21 to $5.89. ATR posted Q1 adj. EPS of $1.26 vs. $0.95, $0.11 above consensus. Q1 sales increased 6.4% Y/Y and were 3% higher than consensus. Q1 gross margin of 36.3% was 115 basis points above the gross margin in Q1 2023. Pharma segment sales increased 14% Y/Y, while Beauty was flat and Closures rose 2% Y/Y. Sales in North America posted positive growth in all three segments. After a strong start to 2024, we think the remaining nine months will continue to benefit from strong sales growth in the Pharma segment and continued margin expansion in the Beauty and Closures segments. We think the destocking headwind in North America is mostly behind AptarGroup ( ATR ) and we anticipate demand growth for ATR's dispensing technologies to accelerate throughout 2024.