JPMorgan assumed coverage of Amcor (AMCR) with an Overweight rating and price target of $10, down from $11.10. The firm views Amcor as the leader in the global packaging industry. The stock has underperformed since Amcor announced the acquisition of Berry Global on November 19, 2024, but the free cash flow generation targets “are not strenuous,” the analyst tells investors in a research note. JPMorgan expects Amcor to capture $590M in cost synergies over three years.
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