Shares of plastic packaging firm Berry Global Group are attractive and can rally more than 30% from here, according to Goldman Sachs. Analyst Adam Samuelson raised his price target on Berry Global Group, while maintaining a buy rating on the stock, saying shares continue to remain attractive on the strength of the company’s free cash flow profile even after a mixed earnings report . Berry Global Group on Tuesday beat profit expectations with fiscal fourth-quarter earnings of $2.19 per share, compared to consensus expectations of $2.15 per share, according to FactSet estimates. Meanwhile, the company reported $3.42 billion in revenue, compared to consensus forecasts of $3.65 billion. Regardless, the stock popped more than 3% on Tuesday. The company announced that its board has approved the payment of a 25 cents per share quarterly dividend. The board also authorized an additional $700 million allocation to Berry’s existing share buyback program, expanding its capacity to more than $1 billion. “Overall, while today’s results did not reveal a hoped-for inflection in organic profit growth, we continue to believe current valuation levels are at odds with true underlying business fundamentals, end-market resilience, and durability of FCF generation, and today’s capital allocation decision should give investors added confidence in management’s ability to execute against its medium-/long-term targets, in our view,” Samuelson wrote in a Tuesday note. “Net, we come away from FY4Q results with our views little-changed, and with shares trading at 6.9x EV/EBITDA and 14.3% FCF yield on our revised FY2024 estimates, we see an attractive entry point for a compelling risk/reward,” he added. The analyst’s $71 price target, raised from $68, is 34% above where shares closed on Tuesday. The stock is down roughly 29% this year. —CNBC’s Michael Bloom contributed to this report.