NEW YORK (TheStreet) -- Shares of Crown Holdings (CCK - Get Report) were gaining on heavy trading volume late Tuesday afternoon as BMO Capital Markets raised its rating on the stock to "outperform" from "market perform."

The firm also upped its price target to $65 from $56 on shares of the Philadelphia-based packing products company.

The stock is trading at an unusually wide discount to Ball (BLL), according to BMO.

"While we regard Ball as one of the best-run firms in our coverage, we also have high regard for Crown and its leadership," the firm wrote in an analyst note.

Additionally, Crown is deleveraging following two large acquisitions and should resume returning excess cash to shareholders in 2017.

"Earnings and cash flow should benefit from a wave of domestic and offshore expansion projects. Finally, risks from the Ball/Rexam combination appear skewed to the upside for CCK," BMO noted.

Crown already has an "impressive" emerging markets footprint, with solid number one positions in high growth markets such as Mexico, Turkey and Southeast Asia, according to the firm.

"Over the next 12-18 months, Crown should see gradual benefit from new facilities/lines opening around the world, most in high growth regions," BMO added.

More than 1.56 million of Crown's shares changed hands so far today, above its average volume of 768,260 shares per day.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.

The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, good cash flow from operations and notable return on equity.

The team believes its strengths outweigh the fact that the company has had generally high debt management risk by most measures that were evaluated.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: CCK